$1.5B in Korean investments seen

The Department of Trade and Industry has secured $1.5 billion worth of investment pledges from proposed collaborative projects from Korean firms following a successful mission last month.

Trade Secretary Gregory L. Domingo and Trade Undersecretary Ponciano Manalo Jr. conducted an investment mission from April 23 to 26 in Seoul, Korea, where they met with top representatives of Korean companies engaged in the financial, electronics, engineering, construction, business process outsourcing (BPO), power and food manufacturing sectors.

These companies included Shinhan Financial Group, Woori Bank, Korea Exchange Bank, STS Semiconductor Co. Ltd., SK Engineering and Construction, Samsung SDS, Daelim Industrial Co., Daesang Corp. and Korea Electric Power Corp. (Kepco).

According to Manalo, they held an investment seminar with more than 100 attendees who showed a huge interest in investing in the Philippines.