Vice President Jejomar C. Binay today said private companies in South Korea are interested in developing low-cost and socialized housing projects in the Philippines that utilize “green technology.”
The companies are also keen on investing in other sectors such as construction, energy, education and shipping, a sure sign of growing investor confidence in the Philippine economy.
“South Korean businessmen see bright prospects in the Philippines, which could translate into more jobs and technology transfer,” he said. “The Philippines is in the radar of leading companies in South Korea.”
Binay met with officials of the Gangwon Group of Companies (Gangwon), Hanjin Heavy Industries Corporation (HHIC), and Saekyung Industry Co., Ltd. (Saekyung).
Gangwon proposed the construction of housing clusters for soldiers using idle lands in military bases, while HHIC plans to put up a socialized housing project for its shipyard workers in Castillejos, Zambales.
Saekyung is interested, meanwhile, in developing mass-housing projects in Cebu and Metro Manila. These projects will use green technology like solar panels and water filtration system to meet the needs of residents.
“These companies’ investments in housing will go a long way in closing the housing gap, and provide decent housing for ordinary Filipinos that are climate-resilient and beneficial to the environment,” Binay said.