A South Korean furniture manufacturer is investing P50 million in expanding its existing operations at the Clark Freeport Zone, where it recently signed a new lease agreement covering more than 9,300 square meters of space.
This block is expected to house Punta Design Inc.’s expansion project, which is expected to be operational by September this year, according to Clark Development Corp. (CDC).
The project will employ about 100 workers, it added.
The lease agreement was recently signed by CDC president and CEO Arthur P. Tugade and Punta Design president and CEO Byung Mo Lee.
In a statement, CDC said Punta Design was a registered sub-lessee locator at the Clark Freeport Zone since 2014. The company is engaged in the business of manufacturing and design of furniture and other related accessories.
Punta Design intends to “revolutionize” the rattan furniture sector by using new style machine tools and system for small scale furniture factory.
Lee was quoted by CDC as saying that his “aim is to accomplish his dreams and build a firm in Clark manufacturing furniture using rattan as its primary material.”
“Furniture is an art and the person who has dreams would move forward, but the person who is already satisfied with his situation will stop,” Lee further said.
Data from the company’s website showed that Punta Design Philippines was an overseas affiliated company of United States-based Punta Design. The local firm targets to produce affordable rattan furniture to be able to cater to a wider segment of the market. Amy R. Remo