THE MINDANAO Development Authority (MinDA) and five private Korean companies signed memorandums of understanding (MOUs) that seek to mobilize investments in Mindanao.
The MOUs were sealed during the Philippines–Korea Business Forum and Networking Session on Dec. 10.
In a press release, MinDA chairperson Sec. Leo Tereso A. Magno emphasized that international cooperation advances Mindanao’s sustainable growth.
“President Ferdinand Marcos Jr. has given us clear instructions in government: to provide assistance to all interested investors, not to give them red tape, but a red carpet. We invite you to make Mindanao your next investment destination,” Magno said, noting the administration’s investor‑friendly stance.
The five agreements cover traffic and personal safety, water treatment and disaster prevention, environmental consulting and renewable energy, solar power generation, and nickel processing and industrial development.
The MOU with JSCO Holdings Inc. eyed a nickel processing project, including a potential smelter and related industrial development.
Wee Yong‑ho, a Korean investor and executive of JSCO Holdings with investments in Dinagat Islands, invited the private sector to partner with Mindanao, highlighting the latter’s potential.
“Mindanao, Philippines, offers exceptional incentives for foreign investors like us. I warmly invite more partners to bring their interest to Mindanao and take part in its promising future,” he said.
MinDa said this will position Mindanao as a hub for mineral processing and will generate jobs in the industrial sector.
With REFLOMAX Co., Ltd, a traffic safety and personal safety enhancement is targeted, seeking to improve public safety standards and support infrastructure modernization across Mindanao.
Meanwhile, the partnership with CHUNGWOO E&E Co., Ltd, seeks to establish a water treatment and disaster prevention plant in Mindanao, focusing on strengthening Mindanao’s resilience against natural disasters and expanding access to clean water.
The partnership of SSKK Solution Co., Ltd is focused on environmental consulting, renewable energy, and greenhouse gas reduction, aimed at advancing Mindanao’s sustainability goals and align with global climate action commitments.
Solar power generation and renewable energy infrastructure are sealed with the Hanchang Energy Co., Ltd, expected to accelerate renewable energy adoption and strengthen energy security of the region.
Bernadette Therese Fernandez, Philippine Ambassador‑Designate to South Korea, highlighted the bilateral relations and emphasized Korea’s contribution to the country.
“Korea remains the top source of foreign tourists to the Philippines. It is also the Philippines’ 4th largest trading partner in 2024, with total trade amounting to USD 9.89 billion — including USD 2.81 billion in exports and USD 7.08 billion in imports,” Fernandez said.
Beyond trade, she added that Korea ranks 5th among the country’s partners, providing USD 1.33 billion in active loans and grants.
Asec. Romeo Montenegro, MinDA deputy executive director, also shared that South Korea is among the top investment locators in the country.
