Korean investors seen to flock to Subic

Subic Bay Freeport– More Korean businessmen are expected to invest into the Freeport Zone as a result of the successful State visit of President Arroyo to South Korea, Subic Bay Metropolitan Authority (SMBA) authorities disclosed yesterday.

SBMA chairman Felicito Payumo said that the Korean business community has grown fast in this premier Freeport that offers immense advantages of setting-up various business here.

Payumo said that the visit of President Arroyo to Korean is also expected to help boost Korean interest in other economic growth areas in Central Luzon like Clark or even Bataan and Tarlac because of the planned Subic-Clark road.

He said that Koreans have also discovered Subic Freeport to be an excellent venues for holiday breaks and a place for them to indulge in their favorite sport.

Payumo said that one of the biggest projects of Korean investors here includes the Greenwoods Park 1 being offered as a venue for potential investments which can run from small-scale enterprises to those catering to everyday consumer retail and specially stores, tourism-related businesses and entertainment facilities in the area.

The project will be infusing P100-million worth of projects and will be similar to the popular Eastwood Park in Manila. The park is foreseen to attract a lot of business activities not only for the Koreans based here but also to cater to diverse consumer groups.

Payumo said another strong presence in the Subic business scene is the Subic Foreign Language Institute, acclaimed as the first English-language learning center to be ever established here. – Ric Sapnu