Korean Entrepreneurs to Engage More Businesses in Cebu

The Cebu Korean Association wants to encourage Koreans to invest in manufacturing and industrial sector since Cebu is widely considered to be a popular destination for Korean tourists.

Cho Bong Hwan, Cebu Korean Association president pointed out that more business investments would bring more jobs.

However, he also said that they find it difficult to start their business here in Cebu because the processing of requirements and permits have many steps.

Cho explained that they want to bring two major Korean companies in Cebu that plays a big role in the industrial sector, the STX Company ltd and K-Water.

The STX Company is a big shipbuilding company and they are also engaged in power plant businesses.

The company is still looking for a possibility to put a shipbuilding facility in Cebu and to look for a strategic location on where this could be situated.

“As of now, STX company is looking for an area where they can put up a plant in Cebu,” he said.

K-Water on the other hand, invested in the Angat dam project and has partnered with San Miguel Corporation to supply Metro Manila’s 80 percent water requirements.

“K-Water controls all water in Korea. K-Water is doing business in Manila and they build a dam to supply fresh water in Metro Manila. The K-Water wants to build a dam in Cebu,” Cho said.

Cho also pointed out that they want to strengthen the relationship of The Philippines and Korea especially in the business sector for future development of both countries.

Based on the record they presented, there are 900 thousand Korean tourists who came and visited Cebu.