CALAMBA, LAGUNA–On Wednesday, Department of Trade and Industry (DTI) Secretary Fred Pascual graced the ribbon-cutting ceremony and unveiling of Samsung Electro-Mechanics Philippines Corporation’s (SEMPHIL) complex building located in Calamba, Laguna.
In his message, Secretary Pascual said that, “We see a promising future for SEMPHIL and the Philippine economy. SEMPHIL’s contribution to the Philippine economy has been substantial–investments totaling over 25 billion, exports exceeding USD80 million, and a workforce nearing 7,000 by January 2023.”
SEMPHIL’s new complex building will serve as the office for its immediate and effective communication and collaboration; training room for in-depth training of both new and existing employees; and support infrastructure to ensure the physical and mental well-being of its employees.
DTI, together with the Philippine Economic Zone Authority (PEZA) expect that this investment from SEMPHIL will amplify the nation’s role in the global supply chain, bolster growth in the Southern Tagalog region through increased economic activities and job opportunities, and boost the country’s position as an ideal investment destination.
SEMPHIL is an export and logistics service enterprise responsible for manufacturing Multi-Layer Capacitor (MLCC) and Thick Film Chip Resistor (TFCR). Its ecozone is located in Calamba Premiere International Park–Special Economic Zone. This thriving industrial hub is home to 126 export manufacturing industries with investments exceeding PHP54 billion and approximately USD350 million in exports in the first quarter of 2023, as well as nearly 18,000 jobs by March 2023.
Aside from SEMPHIL, other South Korean companies have also started to invest in the Philippines. Across nationwide ecozones, there are 244 PEZA-registered South Korean locator companies that have contributed over PHP90 billion investments, generated nearly USD130 million in exports, and employed more than 40,000 people as of January 2023.
“South Korea ranks among PEZA’s top five investing nations. With the Regional Comprehensive Economic Partnership Agreement taking into effect on June 2, I am confident that this standing may be enhanced. Surely, SEMPHIL and other investors can capitalize on the incentives offered by RCEP and our CREATE Law,” Secretary Pascual added.
The grand opening was also attended by PEZA Director General Tereso O. Panga, SEMPHIL President Mr. Hankyu Cho, SEMPHIL EVP, Component Division Mr. Kim Doo Young, and other public and private sector representatives and stakeholders. *
Date of release: 31 May 2023