Heerim to Participate in 600 Billion Won Jeonbuk Financial Town Development Project

[Financial News] Heerim Architects & Planners is participating in the 600 billion won Jeonbuk Financial Town Development Project, making an equity investment and overseeing the design and project management.
According to Heerim Architects & Planners on the 18th, the Orion Asset Management consortium, in which Heerim participates, signed an MOU with Jeonbuk State and Jeonju-si at the Jeonbuk State Government Office on the 16th to promote the Jeonbuk Financial Town Development Project, including the Jeonbuk International Finance Center (JIFC).
The agreement is a follow-up to the Orion Asset Management consortium's selection as the project implementer in August, following a competition among four consortia.
The signing ceremony was attended by Lee Won-taek, governor of Jeonbuk State; Cho Ji Hun, mayor of Jeonju-si; Jung Young-kyun, chairman of Heerim Architects & Planners; and Kim Byung-ki, CEO of Orion Asset Management.
Orion Asset Management, the consortium's lead company, will oversee project planning and fund management as the asset management company (AMC). KB Securities, Daishin Securities, KIWOOM Securities and Truston Asset Management will serve as financial investors (FIs), handling capital contributions, investor recruitment and financial arrangements.
As a strategic investor (SI), Heerim Architects & Planners will take an equity stake while also overseeing the master plan, architectural design, project management (PM) and construction management (CM).
The financial town will be developed on an approximately 33,257-square-meter site near the National Pension Service (NPS) in Manseong-dong, Deokjin-gu, Jeonju-si. Construction is scheduled to begin in the second half of next year, with an international finance center, hotel and convention facilities, and SOHO offices to be built by 2030.
Drawing on its experience and expertise in designing and providing PCM for large-scale mixed-use facilities, including high-rise offices, hotels and convention centers in Korea and abroad, Heerim Architects & Planners plans to make the Jeonbuk International Finance Center a landmark for the region.
Jeonbuk State and Jeonju-si will support the swift handling of administrative procedures, including the project's selection for the government's Regional Revitalization Investment Fund, amendments to the district-unit plan and building permits.
A Heerim official said, "In a complex financial town where finance, hotels and convention facilities are organically connected, the integration of circulation routes and functions among the facilities is key to the design. Based on Heerim's design and PCM expertise, proven through large-scale mixed-use facility projects in Korea and abroad, we will create a space that elevates Jeonbuk's urban competitiveness to the next level."

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