Nine Korean companies engaged in a wide range of industries from food to construction and property development expressed interest to set up operations or expand in the Philippines, according to the Department of Trade and Industry (DTI).
The DTI in a statement said executives from Daesang Corp., Hyundai E&C, Developer City Co. Ltd. (DCC) , JS Development, Korea Overseas Investment and Urban Development (KIND), LG CNS, Pan Co. Ltd., Dohwa and Dae ll Corp. (DIC) paid a courtesy call with President Duterte, DTI Secretary Ramon Lopez and other Cabinet members last Monday in Busan to express their intention to invest in the country.
During the meeting, the President encouraged the company executives to invest in the Philippines soonest possible and assured them that his administration will do everything to expedite their investments.
Daesang is one of the biggest food manufacturers in Korea and the world’s top three fermentation exclusive company.
Hyundai E&C is
engaged in the construction business specializing in infrastructure/environment, architecture/housing, plant/electricity and property development.
DCC is a property development company involved in the building of integrated townships, condominiums, commercial areas, and golf courses etc.
JS Development specializes in big scale dredging activities using state-of-the-art equipment and environment friendly procedures.
KIND provides comprehensive support for Korean companies to expand their overseas public-private partnership investment and development business activities.
LG CNS is part of the Korean conglomerate LG Group which has interests in transportation, manufacturing, banking and finance, government, telco and media, cross industries, etc.
Pan is a specialized company in development of recycle plant facilities and manufacture the system to exchange the wasted garbage to fuel.
Pan had signed a memorandum of understanding with the Department of Environment and Natural Resources (DENR) in 2015.
Pan and DENR plans to sign a MOU for a feasibility study on solid refuse fuel steam supply and power plant in the Philippines.
Dohwa is the largest civil engineering firm in Korea in terms of manpower and have been ranked first, on an annual turnover basis, for 13 consecutive years.
DIC manufactures automobiles parts and heavy industry parts.