보스톤코리아

Dear Headmaster and Board of Trustees,

My name is Myong Sool Chang, the Editor and Publisher of Boston Korea, an on and off-line Korean news media based in Boston.

First of all, I would like to congratulate St Johnsbury Academy for being selected to establish an international school on Jeju Island, which is being developed as Global Education City with international private schools, colleges, residential and commercial facilities.

The South Korean Government has invested $75 million to build a private boarding school modeled on St Johnsbury Academy.

Under the current plan, St. Johnsbury Academy will receive undisclosed annual royalty fees pursuant to the project. Kingdom Development Company (“KDC”), a for-profit spin-off of St Johnsbury, has been managing the negotiations for St. Johnsbury Academy. Bradley Ashley-a close friend of St. J. Academy headmaster Tom Lovett- is CEO of KDC. KDC will receive management fees from Haewol, a Korean semi government authority.

I would like to ask St Johnsbury academy 4 Questions:

1. Has every member of the Board of Trustees read the contract and have they given Mr. Tom Lovett authority to sign the contract?

2. Do you believe it is ethical for officials in a non-profit school to own shares in KDC, a for-profit company?

3. Why does St Johnsbury Academy not disclose its royalties from SJA Jeju?

4. Do Board of Trustees of St Johnsbury Academy know that some directors have shares of KDC?

Sincerely,

Myong Sool Chang

Editor and Publisher

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