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Manila Bulletin devider Philippines devider National devider Korean gov't, firms eye partnership with Mindanao entrepreneurs

Korean gov't, firms eye partnership with Mindanao entrepreneurs

Published Apr 20, 2022 02:37 pm

Several Korean private companies are heading to Mindanao to build partnerships with fellow private firms there, the Embassy of the Republic of Korea in the Philippines said Wednesday, April 20.

Korean Ambassador to the Philippines Kim In Chul (Photo courtesy of Embassy of the Republic of Korea in the Philippines)

The Korean embassy announced that the "official business mission" between the Korean government and firms and companies in Mindanao will happen in Davao City on April 26 dubbed as ROK-Mindanao Sectoral Discussions and Business to Business Meeting.

It will be headed by Korean Ambassador to the Philippines Kim In Chul.

According to Kim, the business mission aims to establish networks with the local business community, through business-to-business meetings, learning sessions, and field visits.

As of Wednesday, two Korean government offices— Korea International Cooperation Agency (KOICA) and the Export-Import Bank of Korea— and eight private companies are expected to be part of the Korean delegation.

The Korean Embassy in the Philippines said that it is now eyeing new private sector-led partnerships in Mindanao following Korean companies' long-standing ties with Luzon and Visayas.

“This visit is expected to provide an avenue for leading Korean companies to build partnerships with local entrepreneurs and explore possible business opportunities in Mindanao,” the ambassador said.

While the Korean government has been active in engaging with Mindanao, mainly through key development cooperation projects such as Laguindingan Airport, the Korea-Philippines Vocational Training Center in Davao, and the ongoing Panguil Bay Bridge construction, the private sector is also keen on exploring Mindanao investment and business potentials, the ambassador added.

Meanwhile, Mindanao Development Authority (MinDA) Secretary Maria Belen Acosta expressed optimism over the meeting saying, “We are more than happy to facilitate business networks between the ROK and Mindanao private sector companies, seeing the several opportunities that this will create for our local economy."

Acosta also added that MinDA will look into potential areas of economic cooperation that are aligned with the Brunei Darussalam Indonesia Malaysia Philippines East ASEAN Growth Area (BIMP-EAGA) agenda. The Republic of Korea is one of the sub-region’s development partners while MinDA serves as the Philippine Coordinating Office for BIMP-EAGA.

Related Tags

Mindanao 42022 KOREAN PRIVATE COMPANIES KOREAN GOVERNMENT EMBASSY OF KOREA IN THE PHILIPPINES AMBASSADOR KIM IN CHUL
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