Biz Buzz: World Bank exec retiring in PH for love

WORLD Bank country director Motoo Konishi has gained a lot of faith on the Philippines during his term in the last four years, proudly telling the whole world that this is “no longer the sick man of Asia but a rising tiger.”

But now, his term has ended and he is likewise retiring from the bank after a 35-year career with the multilateral institution, which he joined when he was 24.

During a farewell party for Konishi at Tower Club’s The Taipan Thursday last week, economic managers and development partners toasted the outgoing World Bank chief and were likewise introduced to his successor, Mara Warwick.

But the highlight of the night was when Konishi announced that he was actually retiring in the Philippines and publicly declared his “commitment” to “Ching.” He was referring to Filipina fiancee Natalie Christine “Ching” Jorge, the primary reason why Konishi has made the big decision to remain in the Philippines.

In a big romantic gesture, Konishi proclaimed that he had decided to give up his career for Ching (if he didn’t quit the World Bank, he would have to go back to Washington D.C. or accept other offshore assignments since his term here has ended). There was a clinking of glasses in the room—as if in a wedding—and Konishi obliged by kissing his future bride.

Ching is nearly two decades younger than Konishi but she matches his passion for development work. A prominent leader herself, she runs Bato Balani Foundation Inc. and is the youth convenor of the International Center for Innovation, Transformation and Excellence in Governance (InciteGov), a lead convenor of Young Public Servants and Youth Vote Philippines and is Asia21 Fellow of the Asia Society. Needless to say, she would have been a big loss to the Philippines had the couple otherwise decided to settle down elsewhere in the world.

And because he’s retiring in this country, Konishi hinted at the high-powered guests he would soon be “available” for another position and even offered in jest to work for the World Bank for free. For a high-skilled expat with genuine love for the Philippines like Konishi, his reinvention of himself as a local resident is something to look forward to. Doris Dumlao-Abadilla

ERC exodus

THERE seems to be a major shakeup at the Energy Regulatory Commission (ERC) following a spate of resignations racking the agency in the past couple of months.

Close to a dozen of the agency’s top executives led by former ERC executive director Francis Saturnino Juan have reportedly turned in their resignation over what the ERC rumor mill says “are serious policy differences” between the resigned officers and ERC chair Jose Vicente Salazar.

Industry players are carefully watching developments that could delay critical policy decisions and deliberations of rate petitions. Power generators are required by law to seek ERC approval before rolling out any investments or increasing power rates that will either be subsidized by government or passed on to consumers.

According to the same rumor mill, the ERC exodus is already being felt in some parts of the countryside, which are experiencing 5- to 8-hour power outages daily. A number of independent power producers are either reluctant or refuse to fire up their power plants sans the required rate approval from ERC. Some fear losing their shirts if agency-approved rates would not allow them to recover costs.

In any case, the UP Law and Harvard-educated ERC chair and his team have a lot on their hands. They must get their act together before parts of the country already reeling from the stifling summer heat and massive power outages plunge into total darkness. Daxim L. Lucas

Solaire goes Korean

FINDING Japanese fine dining restaurants in the Philippines is easy. But finding upscale Korean restaurants is a real challenge. Indeed, there are many excellent and affordable restaurants locally that serve the northern Asian cuisine, but most leave the scent of food and Korean barbecue on your clothes—not good if you’re heading to a business meeting after lunch.

All that is about to change with Solaire Casino and Resort’s newest offering, Kiwa Korean grill. This restaurant has actually been operating since Christmas Eve of 2015 on a soft launch status, but will finally be presented to the public tonight, Feb. 3.

“We realized that there is a void that needed to be filled,” said the restaurant’s chief operating officer Eddie Park. “The Korean population in Manila has been rapidly increasing. We also have a large number of Korean visitors here in Solaire. And the Filipinos are now eating Korean food. Despite the K-Pop fever, there is no Korean fine dining barbecue setup in the country.”

If you’re wondering why it took so long to get the restaurant up to speed, its owners say it’s because it took a while for the local staff to be trained fully in the foreign culture, which has a different way of doing things. And, naturally, Kiwa isn’t just any Korean restaurant, but a 5-star dining experience in a 5-star hotel.

Speaking of owners, Kiwa is owned by David Shim and his partners. Shim is the CEO of Solaire Korea, which has direct supervision over the local restaurant. And though Kiwa is a barbecue restaurant, Korean beef cannot be exported (under Korean law) so they use Japanese wagyu instead (not a bad trade off, we think). All told, a full course meal for one person would set one back around P3,000. Again, not a bad deal … especially since your clothes won’t smell of food afterward. Daxim L. Lucas

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