Here's a bit of good news. According to the SBMA, South Korean mega company, Hanjin Heavy Industries and Construction (HHIC), is set to infuse an additional $684 million on top of its original commitment of $1 billion into its shipping project at the Subic free port. This now gives a total of approximately $1.7 billion.
The SBMA quoted HHIC director and general manager Shim Jeong Sip as saying that the new investment would finance the expansion of Hanjin’s shipyard in Subic.
This news bodes well for Filipinos since it will bring in more jobs and better economic trade opportunities.
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Reference:
Inquirer.Net: Korean to invest $684M more in Subic
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Thursday, August 2, 2007
Subic Bay News: Koreans to Invest $684M More in Subic
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