Pusan University, founded by the Korean government in 1946, is one of the 10 national flagship universities in Korea, located in Busan, the second largest city in Korea, is the first national university in Korea (in March 2011, the Korean parliament passed a bill to convert Seoul National University into a private university corporation.) The university is ranked 431st in the QS World University Rankings 2014 and 68th in Asia. Currently, the university consists of 15 faculties, one branch campus, one comprehensive graduate school, four professional graduate schools, and five special graduate schools. Over the years, the university has contributed to the development of the nation by producing outstanding human resources and leaders. As the first national university in Korea, it defends the dignity of the national university of higher education in Korea together with Kyungpook National University.