HD Hyundai Heavy Industries Philippines (HHI-P) is set to launch this year its first locally built 200-meter vessel at its Subic shipyard, reinforcing the Philippines’ role as a regional maritime manufacturing hub.
This was made known during a courtesy meeting between Finance Secretary Frederick D. Go and Korean Ambassador to the Philippines Lee Sang-Hwa. who reaffirmed Korean government’s commitment to expanding economic cooperation, including through opportunities under the Luzon Economic Corridor (LEC).
The partnership builds on the strengths of both countries––Korea’s technical expertise and the Philippines’ young and skilled workforce.
Aside from deepening maritime cooperation, The two sides also discussed potential cooperation on nuclear energy as part of the Philippines’ broader efforts to strengthen energy security, diversify its energy mix, and support long-term economic growth.
Another key investment discussed was the expansion of Samsung Electro-Mechanics Philippines’ (SEMPHIL) multilayer ceramic capacitor (MLCC) manufacturing facility in Laguna.
The project, which is expected to create more high-value jobs and strengthen the Philippines’ role in the global semiconductor and electronics supply chain, is the first investment to receive Presidential incentives under the CREATE MORE Act.
MLCCs are vital components of automobiles, smartphones, and other electronic devices.
The two officials also discussed opportunities to catalyze strategic investments under the Luzon Economic Corridor, including SFA Semicon’s proposed expansion investment, and the construction of two major railway projects that will enhance connectivity across Luzon.
SFA Semicon’s proposed investment will expand semiconductor assembly and testing capabilities in the Philippines, further strengthening the country’s position in the global electronics value chain, while creating more high-value employment opportunities for Filipinos.
The Republic of Korea is also a key partner in the construction of the North-South Commuter Railway (NSCR) and the Subic-Clark-Manila-Batangas (SCMB) Railway. Once completed, these projects will improve connectivity across Luzon, reduce travel time and logistics costs, and facilitate the efficient movement of people and goods between key economic centers.
“These investments represent opportunities for Filipinos through better jobs, improved connectivity, and more reliable services. We look forward to working closely with Korea to deliver projects that are truly responsive to the needs of the people,” Secretary Frederick Go said.
For his part, Ambassador Lee reiterated South Korea’s trusted and enduring partnership with the Philippines. “The Republic of Korea remains committed to deepening substantive cooperation with its strategic partner, the Philippines, to build a shared future marked by mutual prosperity, resilience, and sustainable growth,” Ambassador Lee Sang-Hwa said.
