SEOUL, KOREA — The Mindanao Development Authority (MinDA) signed five strategic Memoranda of Understanding (MOUs) with leading Korean companies during the Philippines–Korea Business Forum and Networking Session on December 10, 2025.
Led by MinDA Chairperson Sec. Leo Tereso A. Magno, the mission highlighted MinDA’s commitment to fostering international cooperation and attracting investments that drive Mindanao’s sustainable growth.
“President Ferdinand Marcos Jr. has instructed us to assist all investors, not with red tape, but with a red carpet. We invite you to make Mindanao your next investment destination,” Magno said.
The collaboration spans multiple sectors, opening new opportunities for Mindanao:
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JSCO Holdings Inc. – Nickel processing, including a potential smelter and industrial development, creating jobs and positioning Mindanao as a mineral processing hub.
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REFLOMAX Co., Ltd – Traffic and personal safety improvements, enhancing public safety and infrastructure modernization.
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CHUNGWOO E&E Co., Ltd – Water treatment and disaster prevention plants to expand clean water access and strengthen resilience against natural disasters.
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SSKK Solution Co., Ltd – Environmental consulting, renewable energy, and greenhouse gas reduction initiatives to support Mindanao’s sustainability goals.
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Hanchang Energy Co., Ltd – Solar power generation and renewable energy infrastructure, boosting energy security and accelerating clean energy adoption.
Philippine Ambassador‑Designate to South Korea, Her Excellency Bernadette Therese Fernandez, emphasized the strong bilateral ties: “Korea remains the top source of foreign tourists to the Philippines and our fourth largest trading partner, with total trade reaching US$9.89 billion in 2024. Beyond trade, Korea ranks fifth among our development partners, providing US$ 1.33 billion in active loans and grants.”
MinDA deputy executive director Asec. Romeo Montenegro noted that South Korea is a key source of private-sector investments. JSCO Holdings executive Wee Yong-ho added, “Mindanao offers exceptional incentives for foreign investors. I invite more partners to join us and share in its promising future.”
The signing highlighted MinDA’s Seoul engagements, where Philippine and Korean stakeholders explored new avenues for cooperation. Provincial Governors Nilo Demerey Jr. (Dinagat Islands), Edwin Jubahib (Davao del Norte), and Henry Oaminal (Misamis Occidental) showcased business and tourism opportunities in their provinces. PR
