MANILA — Twelve South Korea-based companies are in the Philippines for investment and market research mission.
The Korean firms are also accompanied by ASEAN-Korea Centre (AKC), International Contractors Association of Korea, and Asia Center of Seoul National University.
AKC Secretary General Kim Young-sun is leading the delegation here.
The business mission will be holding an investment forum here Tuesday, with the Board of Investments (BOI) presenting opportunities for Korean companies in the Philippine market, particularly attracting them to participate in the administration’s Build, Build, Build program.
Korean companies doing the business mission here include Seohyun Energy, CNNET Co., Ltd., Aju Corp., Ye Won Co., GS E&C, Pyunghwa Engineering Consultants LTD, K-Water, Daelim E&C, Soosung Engineering Co., Ltd., CJ Human Tech Co., Ltd., KEPCO Philippines Corp., and Hanjin Heavy Industries and Construction.
In January to September 2017, approved investments from South Korean companies amounted to PHP1.82 billion.
South Korea is the country’s fourth largest trading partner in January to November last year.
Data from the Philippine Statistics Authority showed that bilateral trade reached USD1.09 billion, with imports amounting to USD907.45 million and exports valued at USD186.59 million.