Jeonju Old Daehan Textile Site Development Accelerates... Groundbreaking Set for First Half of the Year

Selection of Contractor and Safety Approval Procedures Underway

Aerial view of Daehan Textile.

The "Old Daehan Textile Site Development Project," which is expected to reshape the future landscape of Jeonju, North Jeolla Province, will move into full swing this year with the goal of breaking ground in the first half of the year.

According to Jeonju City on January 6, the city plans to put the Old Daehan Textile Site Development Project on track in the first half of the year by completing administrative procedures such as selecting the construction contractor, appointing a supervisor, and approving the safety management plan.

Previously, in September of last year, Jeonju City gave final approval to the housing construction plan submitted by the private developer, Jakwang Co., Ltd. In December, the city and the private developer signed an implementation agreement, completing the preliminary procedures for the large-scale development.

Under the agreement, Jakwang Co., Ltd. will provide public contributions totaling 385.5 billion won, including the increase in land value resulting from changes in land use designation. Specifically, 110 billion won will be invested in infrastructure such as the construction of an underground road on Hongsan-ro and the expansion of Majeon Bridge to alleviate traffic congestion. The remaining 142.8 billion won will be paid in installments in cash during the construction period and used for the installation of long-delayed urban planning facilities.

Cultural and environmental contributions will also be significantly enhanced. The private developer will transfer roads and neighborhood parks worth 46.7 billion won to the city free of charge and will construct and donate the Jeonju City Art Museum, valued at 36 billion won. In addition, after completion, the company has voluntarily committed to carrying out local community initiatives-such as educational support and care for marginalized groups-by contributing at least 2.5 billion won annually for 20 years.

Measures have also been put in place to revitalize the local economy. The agreement stipulates that local companies must account for at least 30% of construction contracts and building materials, and at least 50% when installing public facilities, which is expected to inject new energy into the local construction industry.

Kim Chilhyun, Director of Urban Infrastructure Development at Jeonju City, stated, "We will push ahead with the Jeonju Tourism Tower Complex Development Project as planned to drive the growth of the local tourism industry and revitalize the economy," adding, "We will also do our utmost to ensure that the public contribution projects proceed without any setbacks."