닫기버튼
facebook twitter kakao talk

News&Media

Press Room

HOME > Press Room

PR/18-02 Korea to team up with the Philippines for the Golden Age of Infrastructure2018-01-24

filePR_Investment_Mission_PHL_FINAL.docx (0.07M)

facebook twitter 프린터 확대 축소

PRESS RELEASE
No.PR/18-02Date2018.01.24(Wed)
ContactProgram Inquiries: Lee Eun-young, Officer, TIU (+82-2-2287-1124, kpark@aseankorea.org)
Press Inquiries: Hwang Ji-seon, Officer, IDU (+82-2-2287-1149, hjs@aseankorea.org)
ASEAN-Korea Centre is an International Organization mandated to promote economic and socio-cultural cooperation between ASEAN Member States and Korea.


Korea to team up with the Philippines for the Golden Age of Infrastructure

- ASEAN-Korea Centre to dispatch an investment mission to the Philippines (29-30 Jan.) -


Manila, the Philippines - The ASEAN-Korea Centre (Secretary General Kim Young-sun) will dispatch an investment and market research mission to Manila, Philippines from 29 to 30 January 2018 in collaboration with the Philippine Board of Investments (BOI), an industrial development and investments promotion arm of the Department of Trade & Industry (DTI) of the Philippines. Composed of members of the Korean business community, the Mission aims to scale up Korean infrastructure investment into the Philippines and facilitate establishment of networks among Korean and Filipino businessmen. 


Kim Young-sun, Secretary General of the ASEAN-Korea Centre noted that, “The Philippine Government announced its economic and social development plan, dubbed “Dutertenomics” to overhaul the country’s infrastructure and pave the way for robust economic growth. This plan will certainly open doors for Korean companies to take part in infrastructure projects in the Philippines through public-private partnership (PPP) scheme. Companies such as POSCO and Korea Electric Power Corporation (KEPCO) have already conducted joint projects in Clark, a city 2 hours north of Manila. I hope this Program will contribute to making more success stories of cooperation between Korea and the Philippines.”


The Mission will participate in the Philippine-Korea Investment Promotion Seminar which will be held on 30 January 2018 at Sofitel Hotel in Manila. At the Opening Ceremony of the Seminar, Kim Young-sun, Secretary General of the Centre, Rowel S. Barba, Undersecretary of the DTI, Han Dong-man, ROK Ambassador to the Philippines, and Raul S. Hernandez, Philippine Ambassador to the ROK are slated to deliver remarks. Following the Ceremony, officials from the BOI, the Department of Public Works and Highways, the PPP Center, and the Department of Energy will introduce business opportunities in the sectors of infrastructure and energy as well as legal framework for foreign participation in the Philippine PPP Programs. An expert from the International Contractors Association of Korea will also share best practices and experiences of Korea’s infra development. As part of the program, the Mission will introduce their main interests, and have 1:1 meeting with their Filipino counterparts.


Prior to the Seminar, the Mission will visit Clark Freeport and Special Economic Zone in Pampanga on 29 January. Clark has extensively developed since its conversion from a former US Air Base into an economic zone in the 1990s. The New Clark City project by the Bases Conversion Development Authority (BCDA) is among the latest developments in the city, aiming to develop Clark into a smart city equipped with housing and business facilities. KEPCO has taken part in the development according to an MOU on the construction and operation of electric supply network and a smart energy city. During the visit, the Mission will receive briefings from the BCDA and the Clark Development Corporation (CDC) on the possible opportunities for collaboration. 


The Philippine Government rolled out the “Build, Build, Build” Program for the country’s infrastructure development. For the next three years, over half of the infrastructure projects will be implemented outside Metro Manila with the poorest five regions getting about 16 percent of countryside development and about 20% for the projects within Metro Manila. A Three-year Rolling Infrastructure Program (TRIP) includes 4,995 priority infrastructure projects amounting to 3.6 trillion Philippine pesos. Of this amount, 1.13 trillion pesos is allocated for 2018, 1.18 trillion pesos for 2019, and 1.29 trillion pesos for 2020. 



[Attachment]

- Press Release file


###


List

TOP