An official business mission headed by Republic of Korea (ROK) Ambassador Kim In-chul is slated in Davao City on April 26, is aimed to establish networks with the local business community, through business-to-business meetings, learning sessions, and field visits.
The delegation, composed of Korean Government organizations, namely, KOICA and K-EXIM) and eight private companies will converge in a one-day event dubbed as ROK-Mindanao Sectoral Discussions and Business to Business Meeting on April 26, 2022, at Acacia Hotel, Davao City.
Korean Embassy in the Philippines said through its official press statement that 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,” Ambassador 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.
Meanwhile, Korean Embassy’s First Secretary Youngsin Lee said, these companies are already operating in the Philippines, but mainly in Luzon and Visayas, so taking this opportunity, they will be looking into Mindanao.
“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.