Korean firm to invest $1.2 million in Subic

SUBIC BAY FREEPORT – Another Korean firm is set to establish its manufacturing plant here, investing $1.2 million for an industrial complex at the Subic Bay Industrial Park (SBIP).

Subic Bay Metropolitan Authority (SBMA) Administrator and CEO Armand Arreza identified the new locator as Wooju Inc., which is engaged in the manufacture of electrical equipment such as circuit breakers, control panels, and switch gears.

Wooju president Moon Jong Cheol said his company decided to locate in Subic because of the Freeport’s impressive performance in attracting businesses last year, including the $1-billion shipbuilding project of South Korea’s Hanjin Heavy Industries and Construction Corp. – Bebot Sison Jr.