Take a breather in developing a Korean textile site in Jeonju for the 'crisis rumor'..."Expanding the negotiation deadline"

Jagwang, the developer of the site development project for the former Daehan Textile Factory in Jeonju, North Jeolla Province, which was rumored to be crippled due to the loss of profits and the occurrence of EOD, has been found to have avoided the business stranding crisis once by extending the deadline for negotiations with the loan company that lent the money.

The PF Daejoo Council, which lent 200 billion won in land purchase funds to the developer Jagwang, convened an autonomous council last week and decided to extend the deadline for joint management procedures by about one more month.

As a result, the deadline for negotiations between Jagwang and Daejoo, which was originally until yesterday (22nd), has been postponed again until the end of January next year.

While Jagwang is pushing ahead with the project with the aim of starting construction in the first half of next year, Jeonju City held an urban planning committee meeting on the 10th to change the former 230,000㎡ of Korean textile site from a general industrial area to a semi-residential area and a general commercial area.