Predecessor of Chonbuk Buffalo was established in January 1993 as Wansan Puma FC. Wansan is the old name of Jeonju in Chonbuk. Wansan Puma was scheduled to join the 1993 season of K-League, but was postponed for one year due to draft boycott.
In 1994, Wansan Puma changed its name to Chonbuk Buffalo. Their one and only season in 1994 saw them gather only 14 points from their 30 matches, winning just three times and finishing last, before the club folded.