The perilous state of Documents and interviews with insiders offer a more complete picture of key economic, strategic and circumstantial factors leading to the dramatic turn of events that left students, staff, faculty and families in limbo for months. in New York City developed over decades, hit turbulence in the past two years, then turned into a stunning death spiral in the Spring 2023 semester.
Read MoreThe King’s College will be able to finish the spring 2023 semester thanks to a $2 million loan from Peter Chung, although the future of the college remains uncertain. In an email on Friday, March 3, King’s confirmed that “we received bridge financing that will provide us with funds to ensure that we can fulfill our financial obligations to faculty and staff through the end of the semester.” The $2 million loan does not cover the overdue rent for the Albee on-campus housing.
Read More(OPINION) So far, most of the coverage by mainstream news outlets of The King’s College’s financial woes has oddly focused on King’s donors such as Bill Hwang, the DeVos family and interim president Stockwell Day. It would be smart for reporters to dig more into Canadian businessman Peter Chung and his involvement with King’s in the past two years as well as his other business ventures through Primacorp Ventures Inc. and the Emanata Group. Could it be true that Chung was a philanthropist and a savior for King’s during a time of crisis of the Covid-19 Pandemic? Or could it be true that Chung's failed vision and turbulent strategy for King’s has contributed to King’s weak financial position and potential for closure?
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