Some Korean Firms eyeing the Phils for investment.

Philippines
October 20, 2012 6:57am CST
Hello Lotters, I am actually happy by this recent development, with the situation of tension between other Asean countries against china i think other manufacturers are going for other sources of man power for their own business to prosper. Just remembered how the protesters went wild against the Jap Companies there rioting and destroying Business properties. Right now, I've read in one article that some of them are planning to have a manufacturing firm in our country. simply because we have the potential to be good manufacturers, which is a good thing i believed. I hope more investments would come in to the country because we need more jobs for our people. Going abroad it's just plain suicide.
1 person likes this
10 responses
• Philippines
20 Oct 12
hi LK, Lot of Koreans already invested here in our country in fact one of the town in Pampanga is already a Korean town cause all of the resident there is Korean and you can see a korean store and korean resto all over the place. Well I hope fellow countrymen will be given a enough salary happy mylotting
• Philippines
21 Oct 12
Hello Bhabycatch, yes a lot has already invested into our country, i have even co-worked with a group of people who used to work with a Korean company. then, I used to try and apply in a call tutoring Center which was meant to teach koreans online english language. well, some of them are a bit "kuripot" when it comes to salary lolz that's what i heard
• United States
21 Oct 12
Yes, It is good that your country will have some work for your country men and women to prosper. Us in the US don't fare so well because much of our manufacturing and marketing is done by outsourcing to other countries where the industries don't have to pay minimum wage here. They can pay a low wage to people in India and other places to get the work done and people here are out of work. If one has a job here they better hang onto it, and if they lose it because their company has closed up shop and gone elsewhere they are SOL.
@romzee (937)
• Philippines
21 Oct 12
very true, Koreans are almost everywhere in the country today, even our showbiz has been invaded by them. Lots of Korean restaurant and stores are sprouting everywhere... Even the night life in the city are full of Koreans. Hanjin Heavy Industries Corporation, the largest ship builders in the Philippines is a Korean company that employed almost 21k Filipino workers.
@romzee (937)
• Philippines
20 Oct 12
We need those investment very badly, we are almost always bypassed by foreign investors because of restrictive foreign investment policy of the government as set in Cory Constitution. Before Cory Constitutions very few Filipinos goes abroad for greener job opportunities. Almost all big corporations in the world have companies here now it is just a memory. Everyone as always have sight to go abroad because they see no hope in getting good job here. And now our best export are human resources, our OFW, there remittances is the only one keeping our economy afloat... without their remittances, our economy will go bankrupt!
• Philippines
20 Oct 12
Hello Romzee, yeah our economy will go down if it wasn't for the OFW's but we need to ensure that some day our people can go home and work here themselves. but most investments are afraid of our lack of security. with so many businessman being killed in our country, i think the government should hire more cops to keep our peace and order in the metropolis upfloat
@romzee (937)
• Philippines
21 Oct 12
Most places in the archipelago are rather more peaceful than in any other places in the world, except in the south where peace is much of a concern. First of all I don't believe that foreign investor are afraid here because of lack of peace and order in the country. There main concern here is lack of security for their investment. The government almost always change investment policy from president to president. Also the foreign investment policy enshrine in our constitution that bar 100% foreign equity which makes them minority to their own business. Another thing is we are much lacking in much needed infrastructures and lastly the high cost of energy and too much bureaucracy in doing business here.
• Philippines
26 Oct 12
Some said it's not even that worse except to those areas that are mostly occupied by the muslim community. but i don't think it's that worse except how the media sensationalize it. I don't know why they still lack architech and engineers to plan it right when it comes to getting their act straight in terms of better infrastructure.
@rsa101 (37952)
• Philippines
21 Oct 12
Well foreign investment is always welcomed here in our country. I think that is a good sign that at least Government will have its share from the income generated by that foreign investment. I think that is because of the recent conflicts between their neighbor China and Japan. That is why they are trying to find other nations to operate their businesses. This might help our country as well from getting or unemployment problems as well.
@rsa101 (37952)
• Philippines
21 Oct 12
Well I guess they have to be ready to face this possibility. But I guess if they are really determined to set their business here then I guess they should be properly warned about that risk already. Maybe they can share to us the discipline that their country has on us here.
• Philippines
26 Oct 12
Well, for one thing they are strict when it comes to having our personal trash recycled and put it in trash properly. i guess that's what i have observe to some of co workers that i used to work with. i hope these investors can last or else it would cost trouble for either investor or both.
• Philippines
21 Oct 12
Hello Rsa101, I hope they will not victims of corruption that forces other investors to leave the country they way some german investors did. i hope some japanese businesses will transfer their factories here so that it would create jobs. we wouldn't be enemies here though hahaha since we don't literally claim their islands
@aabuda (1722)
• Philippines
20 Oct 12
wow...this is a good news...I just hope that they will do it in order for our fellow Filipinos to have a job, as this will definitely generate more job opportunities in our country...
• Philippines
20 Oct 12
Hello Aabuda, it is said that they will have to look for local partners that of course can be trusted. i hope they choose the right kind of people to work on their business to expand into the local market manufacturing. one of the business equipment to be manufactured here is some excavators? but that's just one out of so few who are interested in here.
• Philippines
21 Oct 12
I had no idea that's been the problem of our country all along. so much corruption and politicking i guess.
@romzee (937)
• Philippines
21 Oct 12
We need to open up our investment policy, foreign investors almost always shy away here because they can't put up a business here without having a local partners. Too bad if this again turn sour because they can't find partner they can trust. Most of our neighboring countries including China mainland allowed 100% foreign capital so there's no need to find a local partner to put up business.
@lady1993 (27225)
• Philippines
24 Oct 12
yes, that is very good news.. i just hope they don't take advantage of us.. since i read somewhere that many investors hire workers here since they accept salaries that are low, or maybe just a little over the minimum wage..
• Philippines
26 Oct 12
Hello Lady1993, I am more concerned with the local partners giving disadvantage to the partners and when the business isn't doing good they'll find a way to steal their money. I know most Korean companies tend to too thrift and too strict with it comes to their salary because i known people who used to work with a korean company
• Philippines
20 Oct 12
This is nice! I hope it happens! Now, I became more inspired to study Hangul!
• Philippines
21 Oct 12
Hello Girl_thinking, they speak english anyways, but you can try, it would be an added advantage for you if you apply for a korean company. that would be really nice
• Philippines
26 Oct 12
You won't be able to consider yourself a stranger when you go to both korea and japan. because you already know their language. besides, not every one there understands and knows english language, some prefer to learn english.
• Philippines
25 Oct 12
I have already started the Hangul alphabet and it was so easy compared to Japanese' hiragana, katakana and kanji! It's nice to learn foreign languages and be able to put them in good and productive use!
@Sir_bobby88 (8231)
• Singapore
20 Oct 12
Well i think we should be too afraid of venturing out of our country to look for jobs or looking for stuff to invest on. Or else a country would never grow if everyone has such a thinking.
• Philippines
20 Oct 12
Hello Sir_Bobby, I don't know about the people there in your place. but the Filipino had been going on guts venturing out on other countries looking and getting jobs out there, i bet there are a lot of Filipinos there too. but investing in other countries allows the filpino to learn on how to make their country better in the future.
@jaiho2009 (39142)
• Philippines
20 Oct 12
This is really a good news for everyone. I agree, Filipinos are good in everything,just waiting for the chance. And...Korean products are much better than .....
• Philippines
20 Oct 12
Hello Jaiho-sis, I only wish Japanese manufacturing of other stuff would also go to the Philippines. I can't believe some of these protesters would just go and bust some jap factory because of some stupid island dispute. we are very hard working and their work ethic can teach filipinos how to work hard and even teach future workers
• Philippines
20 Oct 12
Yes, this is a good sign that we are being noticed again by foreign investors. They see a lot of potential in the Philippines much like the current mood of our economy nowadays. There are a lot of foreign investors that already expressed investing in the Philippines. A lot of information can be resourced even in the stock market. I just hope that investments like this will push through. There is a great positive outlook for the Philippine economy and we just have to sustain it.
• Philippines
21 Oct 12
Hello Agentgulaman, I hope they should get a proper local partner that knows how to get the right kind of man power here. they better start doing a lot of research when it comes to place, location, culture and it's people. not to mention it's now always the same with the other so better be careful. hope there will be more investments to come but i hope they will have environmental concerns too
• United States
20 Oct 12
Hi Letran, Good to see you again. I am very happy for you and your country that some manufacturing jobs will be coming your way. I know that it is difficult for many people in the Philippines. I used to work with many Filipino nurses. This was in the 70s and 80s. They worked at the hospital and lived on some of the money and sent most of it home to their families. She said our money was worth 8 times what our money is worth. So in other words, I guess they could become wealthy by working over here and sending their money home. I admire them for the sacrifices they made for their families.
• Philippines
21 Oct 12
Hello PointlessQuestions, Yes it was never easy to begin with, back then in the 70's and 80's Martial law was so hype that every one wants to get a chance to get out of the country because they wanted to avoid violence because of marco's dictatorship. I wish some day those sacrifices of leaving their families behind will come to an end, it changes the way families care for each other.