Influx of South Korean Investors for Cebu

Expect more South Korean investors and tourists in Cebu this year and in the coming years.

This as the newly appointed Ambassador to the Philippines of South Korea, His Excellency Han Dong-Man assured Governor Hilario P. Davide III of continuous cooperation between their country and the Philippines, particularly Cebu.

In a courtesy call to the governor, the new envoy of South Korea to the Philippines acknowledged the good relationship of both countries, specifically mentioning Cebu, where a number of Koreans are currently in, either for business, school or leisure.

Gov. Davide considers this as a welcome development and with the promise of more investors, this will further boost Cebu’s economy.

“In number, the Korean community is largest in Cebu and in the entire country,” said Davide, explaining that the new envoy also raised security concerns of Korean nationals in the Philippines.

Davide assured the Ambassador of the Koreans’ security in Cebu, as well as all other nationals that are in the province. Ambassador Han also acknowledged that Cebu is safe.

Further, Davide welcomes the entry of more Korean tourists in Cebu. One concern though raised by local tour operators are tour bookings made by Korean travel operators, who also served as tour guides here in Cebu.

“So they’re competing with our local tourist guides. That’s one issue being addressed by our tourism commission,” said Davide. (Ainjeliz dela Torre-Orong)

www.cebu.gov.ph