TAIPEI (Taiwan News) — The National Yang-Ming University (NYMU, 國立陽明大學) and National Chiao Tung University (NCTU, 國立交通大學) will officially merge on February 1, 2021, after the proposal received a green light from the Ministry of Education (MOE) on Wednesday (June 24).

The new academic institution, which will be called "National Yang Ming Chiao Tung University," will have 17,000 students and 1,400 faculty. The MOE expects the merger to benefit both parties through better coordination of resources, diversified academic disciplines, and an enhanced competitive edge.

An NT$400 million (US$13.5 million) budget will be earmarked by Taiwan's education authorities to help the two universities prepare for their union, including for costs related to relocation and system incorporation, wrote CNA.

An additional NT$2.6 billion will be needed to build a "smart health building and animal center," among other facilities. The MOE has promised assistance in securing funds for the project, which is in line with Taiwan's bid to turn itself into a smart healthcare and biomedical industry hub.

Located in Taipei's Beitou District, NYMU is a research university focused on the fields of medicine and biotechnology. NCTU, a prestigious research university in Hsinchu, is known for its prowess in electrical engineering, computer science, and applied chemistry.