Jeonbuk to Begin Construction of 'Jeonju Exhibition Convention Center' Next Year

Final Approval of Central Investment Review by Ministry of the Interior on 28th
Administrative Procedures Completed... Project Speed Gets 'Green Light'

A green light has been given to the 'Jeonju Exhibition and Convention Center' project to be built on the site of the old Jeonju Sports Complex located in Jeonju, Jeonbuk. The 'MICE Complex Development Plan' that will open a new future has gained momentum as the administrative procedures at the central government level have been completed, accelerating the core construction project.

On the 28th, Jeonju City announced that the 'Jeonju Exhibition and Convention Center Construction Project' received conditional approval as a result of the Ministry of the Interior and Safety's '2024 4th Ad Hoc Local Finance Central Investment Review.'

Exterior perspective of Jeonju Exhibition & Convention Center. Provided by Jeonju City

The Local Finance Central Investment Review is a system that verifies the necessity and feasibility of projects to ensure budget planning, efficient operation, and to prevent reckless overlapping investments in various investment projects. The target projects are large-scale projects with a total budget of 20 billion KRW or more.

This year, the regular central investment reviews were reduced from four to three times, so applications had to be submitted in January next year. However, the city actively communicated its willingness and necessity to proceed with the project and requested an ad hoc review from the Ministry of the Interior and Safety, making the application possible.

Following the conditional approval received in the '1st Local Finance Central Investment Review of 2022,' the city has now cleared the hurdle with the revised plan through this central investment review. Accordingly, the city plans to swiftly complete all administrative procedures and accelerate the project.

In this review, the city met criteria such as ▲necessity and feasibility of the project ▲alignment with economic and social policies ▲mid- to long-term regional plans and balanced regional development ▲compliance with laws and policy intentions ▲creation of economic added value, reaffirming the justification for the construction project.

In particular, the city is proactively conducting a 'Exhibition and Convention Center Operation Plan Establishment Service' to ensure efficient operation of the center. In December, the city plans to sign a mutual cooperation agreement with Jeonbuk Province regarding construction and operation costs for the exhibition and convention center project, among other efforts, which helped secure approval in this central investment review.

The ad hoc approval for the central investment review covers the Jeonju Sports Complex MICE Complex Development Project, with a total budget of 354.8 billion KRW. This includes ▲30 billion KRW for exhibition and convention center construction ▲42.6 billion KRW for land costs ▲12.2 billion KRW for demolition of sports facilities.

The approved scale meets international conference facility standards, including an indoor exhibition hall of 10,000㎡, a multipurpose outdoor plaza of 10,000㎡, a main conference hall accommodating over 2,000 people, and more than 20 medium and small conference rooms.

The Ministry of the Interior and Safety set conditions for approval, including ▲securing private capital without additional local government financial burden ▲establishing a resource-sharing plan with Jeonbuk Province for project and operating costs before proceeding ▲developing specific strategies for attracting international conferences and revitalizing operations before project implementation.

Accordingly, with the completion of administrative procedures by central government agencies, the city plans to rapidly advance the basic and detailed design of the exhibition and convention center, the core facility of the MICE complex, and make every effort to begin construction in the second half of next year.

Woo Beom-gi, Mayor of Jeonju, said, "Putting aside regrets over the demolition of the Jeonju Sports Complex, which was built with the donations of the residents, the construction of the exhibition and convention center that will open a new future for Jeonju is beginning." He added, "We will do our utmost to promptly build the exhibition and convention center, which will be responsible for Jeonju's future and become the heart of the local economy, restoring its former glory and advancing as a strong economic city."