Heerim has been selected as the preferred negotiation partner for the 600 billion won Jeonbuk International Finance Center (JIFC) project, marking its significant entry into a large-scale mixed-use development.
On August 12, Heerim Architects announced that the Oryon Asset Management Consortium was chosen as the top candidate in the bidding for the 'Jeonbuk International Finance Center (JIFC) and Financial Town Development Project' organized by the Jeonbuk Special Self-Governing Province. A total of four consortia participated in this bidding.
The Oryon Asset Management Consortium includes the leading firm Oryon Asset Management, along with KB Securities and Truston Asset Management. Heerim will invest equity in the consortium while also handling architectural design and construction management (CM).
The Jeonbuk International Finance Center project is a major initiative that will utilize the government's regional revitalization investment fund to inject approximately 600 billion won in private capital. It is set to be developed in the Munchang-dong area of Deokjin-gu, Jeonju, with a target completion date in 2030.
The project site will feature a 31-story prime office building, a 14-story SOHO office, a 13-story global brand hotel, and an international conference facility with a total floor area of 7,285 square meters. The plan aims to create a complex that integrates financial institutions and asset management companies with hotel and MICE facilities, consolidating finance, business, accommodation, and convention functions in one location.
Heerim aims to establish the Jeonbuk International Finance Center as a landmark representing the region, leveraging its experience in designing and managing large mixed-use facilities, including high-rise offices and hotels. By participating in equity investment and taking charge of design and CM, Heerim will be involved in the project from the early stages of development.
During the evaluation process, the consortium's financial execution capability, the feasibility of its occupancy plans, and the project timeline for completion in 2030 received high marks.
The Jeonbuk Special Self-Governing Province plans to sign a memorandum of understanding (MOU) with the consortium within the year, followed by detailed design and administrative procedures, with construction expected to begin next year.
A Heerim representative stated, "The Jeonbuk International Finance Center is a crucial project that will serve as a cornerstone for revitalizing the local economy and elevating the region to an international financial city. We will concentrate Heerim's design and CM capabilities to create a world-class landmark representing Jeonbuk."
Earlier, Heerim Architects was selected as the design firm for the redevelopment project of Mokdong District 1 in Yangcheon-gu, Seoul, in May.
* This article has been translated by AI.
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