South Korea and the Democratic People's Republic of Korea (DPRK) planned to open their first joint college in September, South Korea's Yonhap News Agency reported on Wednesday.

According to the report, the college is named as the Pyongyang Science and Technology College and is scheduled to open in the DPRK's capital city of Pyongyang on Sept. 10. It will initially recruit 150 graduate students for such courses as master of business administration (MBA).

"We had originally planned to open it in April but strained inter-Korean ties delayed the project. The favorable environment will make the project go smoothly this time," said Lim Wan-geun, a boarding member of the Northeast Asia Foundation for Education and Culture.

The college will consist of a five-story building for lectures, a four-story building for a library, dining facilities and research and five dormitory buildings, Yonhap said.