HYUNDAI Engineering & Construction Co. Ltd. (HDEC) is considering new projects outside its current commitments in the Philippines, the Department of Foreign Affairs (DFA) said.

On July 22, Philippine Ambassador to South Korea Raul S. Hernandez met with HDEC officials led by its President and CEO Soo-Hyun Jung, who cited the Philippines as “a competitive location for investors.”Mr. Hernandez urged HDEC to increase the company‚Äôs presence in the Philippines “for the mutual benefit of both countries.”

He proposed that HDEC look into partcipating in the government’s Public-Private Partnership (PPP) projects, noting that almost US$20 billion worth of infrastructure projects are set to be rolled out in the next years.

HDEC, One of South Korea’s largest construction and civil engineering companies, builds harbors, terminals, bridges, highways, dams, nuclear and other power plants, petrochemical plants, commercial buildings, as well as high-rise apartments.

Among its best-known projects are the Incheon International Airport, the Kyeong-bu (Seoul-Busan) expressway and more recently, the Songdo Suspension Bridge which is one of the longest in Asia.

The DFA said the meeting was set up by the Philippine Trade and Investment Center (PTIC) as part of the Embassy’s economic diplomacy to advance government’s efforts in attracting more South Korean investment.

 

By Ailyn D. Galura