A public corporation — an organization established or funded by government or public bodies to carry out public-interest projects.
その事業は国の公団が運営している。
That project is operated by a national public corporation.
公団が開発した土地に新しい商業施設が建った。
A new commercial facility was built on land developed by a public corporation.
Abbreviation (colloquial) for public housing (公団住宅) — housing complexes provided by a public corporation.
母は昔、公団の団地に住んでいたと言っていた。
My mother said she used to live in a public-housing complex.
この辺りは公団住宅が多く、子育て世代が多い。
There are many public-housing complexes around here, and many families with children live here.