Heerim to lead design, PM and CM for W600b North Jeolla finance town

Heerim Architects & Planners will join the North Jeolla Finance Town development project — backed by North Jeolla Province and Jeonju — as a strategic investor, taking on master planning, architectural design, project management and construction management alongside an equity stake.

The Orion Asset Management consortium signed an MOU with North Jeolla Province and Jeonju on Wednesday at the North Jeolla provincial government office to advance the Jeonbuk International Financial Center and surrounding finance town development project.

The agreement follows the consortium's selection last month as the project operator after competing against three other consortiums in a public tender for the finance town development. The signing marks the formal start of full-scale project execution.

Orion Asset Management, the consortium's lead company, will oversee project planning and fund management as the asset management company. KB Securities, Daishin Securities, Kiwoom Securities and Truston Asset Management will participate as financial investors, handling equity contributions, investor recruitment and financing arrangements. Heerim will serve as the strategic investor, taking an equity stake while leading master planning, architectural design, project management and construction management.

The North Jeolla Finance Town will be built on an approximately 33,257-square-meter site in Manseong-dong, Deokjin-gu, Jeonju, near the National Pension Service headquarters. The total project cost is approximately 600 billion won ($439 million), with ground-breaking planned for the second half of next year and completion targeted by 2030. The development will include an international financial center, hotel and convention facilities, and small-office units. The plan envisions combining financial and MICE functions in a single location to maximize synergies with the National Pension Service.

Heerim plans to develop the Jeonbuk International Financial Center into a regional landmark, drawing on its experience designing and managing large-scale mixed-use complexes including supertall office towers, hotels and convention centers. North Jeolla Province and Jeonju will support the necessary administrative procedures, including securing designation under the regional revitalization investment fund program, amending the district unit plan and obtaining building permits.

"In a mixed-use finance town where financial, hotel and convention functions are organically connected, integrating circulation and function across facilities is the core design challenge," a Heerim official said. "We will draw on the design and PCM expertise we have built through large-scale mixed-use projects to create a space that strengthens North Jeolla's urban competitiveness."

Heerim is also providing construction management services for several redevelopment projects, including Hannam zones 3 and 4, Apgujeong zone 3, Eunma Apartments and Samik Beach in Busan.