Heerim to handle design, CM for W600b North Jeolla financial center project

Heerim Architects & Planners will join the development of the Jeollabuk-do International Financial Center, or JIFC, a project valued at about 600 billion won ($424 million). The firm will take an equity stake in the consortium led by Orion Asset Management, which was selected as the preferred negotiating partner, and will handle architectural design and construction management.

Heerim announced Wednesday that the Orion Asset Management consortium, of which it is a member, was named the preferred negotiating partner for North Jeolla Province's public tender to develop the JIFC and a broader financial town complex.

Four consortiums competed in the tender, and Orion Asset Management's group ranked first in the overall evaluation. Consortium members include lead firm Orion Asset Management, KB Securities and Truston Asset Management. Heerim will hold an equity stake while also carrying out design and construction management work.

The project will channel roughly 600 billion won in private capital through the government's regional revitalization investment fund. The development site is in Manseong-dong, Deokjin-gu, Jeonju, with a target completion date of 2030.

The complex will be anchored by a 31-story prime office tower for financial institutions and asset managers, complemented by a 14-story SOHO office building, a 13-story global brand hotel and an international convention facility spanning 7,285 square meters. The project aims to create a mixed-use financial town combining finance and MICE functions.

Heerim plans to draw on its experience designing and managing large-scale mixed-use developments — including supertall office towers, hotels and convention centers — both in Korea and abroad.

North Jeolla Province plans to sign an MOU with the consortium before the end of the year, complete detailed design work and administrative procedures, and break ground next year.

"The JIFC is an important project that will lay the foundation for revitalizing the regional economy and elevating North Jeolla Province to the status of an international financial city," a Heerim official said. "We will bring together Heerim's full design and construction management capabilities to deliver a world-class landmark that defines North Jeolla Province."