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North Jeolla Province Signs Land Purchase Agreement to Establish Financial Town

According to Yonhap News,

(JEONJU=Yonhap News) North Jeolla Province signed a land purchase agreement with the Korea Land & Housing Corporation on February 22 to establish a financial town at the Jeonbuk innovation city.

The financial town will be built on 36,000 ㎡ of land near the headquarters of the National Pension Service.

The province secured KRW 15.7 billion for land purchase after a series of evaluation and examination on the local financial investment and the plan to manage the common property.

"The Jeonbuk innovation city will become a global financial hub when the National Pension Fund Investment Office, which manages KRW 500 trillion of funds, and other financial firms move to the financial town," said a provincial official.

Copyrights Yonhap News. All Rights Reserved.

Source Text

Source: Yonhap News (Feb. 22, 2016)

** This article was translated from the Korean.