HD Hyundai Chair Chung Ki-sun visited the Philippines and said, "We will continue to build deep trust with the Philippines with the pride of representing Korea."
According to HD Hyundai on the 5th, Chung, visiting the Philippines as part of the Korean economic delegation, said, "HD Hyundai has gone beyond a simple business partnership with the Philippines to serve as a key bridge to promote friendship between the two countries."
On the 4th, Chung visited the Korean War memorial at the Libingan ng mga Bayani in Manila and laid a wreath. During the Korean War, the Philippines was the first Asian country to form a combat unit and dispatched the largest number, 7,420 troops.
Chung then attended the "Korea-Philippines Business Forum," hosted by The Federation of Korean Industries and the Philippine Chamber of Commerce and Industry, to explore ways to expand economic cooperation between the two countries.
That day, Chung visited HD Hyundai Philippines in Subic Bay, the Philippines, toured the construction site of the new employee dormitory and the yard, and encouraged employees.
At a luncheon with employees, Chung said, "We will take even greater care of housing, medical services, public safety, and other areas so that executives and staff have no inconvenience," adding, "Above all, please put safety first and do your utmost in your duties."
HD Hyundai has been expanding its business base in the Philippines, focusing on shipbuilding and defense.
HD Korea Shipbuilding & Offshore Engineering, the intermediate holding company for the shipbuilding sector, signed a lease agreement the year before last with Cerberus Capital Management of the United States for part of a shipyard site in the Philippines. Last year, a steel-cutting ceremony was held for the construction of the first vessel to be built by HD Hyundai Philippines, a 115,000-ton petrochemical product carrier.
HD Hyundai Heavy Industries has won orders for 12 warships in the Philippines since 2016, taking the lead in modernizing the Philippine Navy. It also established a logistics support center locally and is carrying out maintenance, repair and overhaul (MRO) for the vessels.