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Mindanao-Korea business network eyed

April 23, 2022 Cristina Lee-Pisco 225 views

A KOREAN delegation is set to visit Davao City next week to explore business opportunities in Mindanao.

The official business mission aimed to establish networks with the local business community, will be headed by Republic of Korea (ROK) Ambassador Kim In-chul.

Composed of Korean Government organizations and private sector companies, the delegation will gather for a one-day event dubbed as ROK-Mindanao Sectoral Discussions and Business to Business Meeting on 26 April 2022 at Acacia Hotel, Davao City.

The Korean Embassy in the Philippines said 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,”
Kim said in a statement.

One of the target outputs of the visit is the establishment of a business network and partnerships between the private sector of Mindanao and Korea.

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.

“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,” MinDA Secretary Maria Belen Acosta said.

Acosta also added that MinDA will look into potential areas of economic cooperation that are aligned with the BIMP-EAGA agenda. ROK is one of the sub-region’s development partners while MinDA serves as the Philippine Coordinating Office for BIMP-EAGA.