Jeonju Korea Textile Site Development Project in 'Crisis of Stranded'What's your future prospects?

[Anchor]
YTN exclusively reported that the trillion-level development project being promoted at the former Korean Textile site in Jeonju, Jeollabuk-do, was on the verge of crippling due to financial difficulties.

Currently, the results of negotiations between the loan company and the developer who lent the money are the most important, and the progress of related administrative agencies is also expected to have a significant impact on the success or failure of the project.

I'm reporter Kim Min-sung.

[Reporter]
The site development project of the former Korean textile factory in Jeonju is a long-standing issue in local politics.

Kim Kwan-young, governor of North Jeolla Province, promised administrative cooperation two years ago when he was a candidate for local elections,
After being elected, Jeonju Mayor Woo Bum-ki
invited the CEO of the implementation company, Jagwang, to his office.

[Woo Bum-ki / Jeonju Mayor of North Jeolla Province (August 2022) : It is one of the biggest pending issues in Jeonju City. I think it's right for the mayor to meet the problem in person and do it officially..]

In the face of uncertainty in projects that have not been able to speed up despite this atmosphere, the direction of the relevant local governments' response is also interested.

It is the regional organization Jeonbuk Self-Governing Province that holds the key right now.

The Jeonbuk Urban Planning Committee, which will be held next month, will deliberate on changing about half of the old Korean textile site from residential to commercial land.

[Oh Hyun-sook / Member of Jeonbuk Provincial Council (Justice Party): We believe that the city plan should be deliberated carefully as the investment in the construction company that provided the guarantee to the developer, Jagwang, has become uncertain.]

If the change is passed, the ball will be transferred to the basic organization, Jeonju City.

The surrounding apartment complexes in contact with the planned development site are Class III general residential areas with a floor area ratio of 300%.

Jeonju City maintains its policy to change the place where Jagwang planned to build an apartment to a semi-residential area with a floor area ratio of 500%.

[Lee Jung-hyun / Former secretary of the 'Citizen Public Debate Committee on the Former Korean Textile Site' : It is not even balanced with the surrounding land. Because it doesn't fit in terms of landscape, skyline, and density in terms of the appropriateness of urban planning....]

Amid various criticisms and concerns, the developer, Self-Luminous, reiterated that there would be no problem with the business.

[Executive Jagwang official: We are preparing for the stabilization plan soon so that it will proceed without any difficulties in carrying out the project]

Public attention is being paid to whether the large-scale project being carried out on the land above the yolk of Jeonju will eventually run aground or meet the tailwind after twists and turns.

I'm Kim Minsung of YTN.