Korean IT firm commits to invest $1B in Bataan freeport zone

MARIVELES, Bataan — A new tech locator from South Korea has committed to invest $1 billion at the Freeport Area of Bataan (FAB).

Emmanuel Pineda, chairman of the Freeport Area of Bataan, and Virgilio Pagulayan, president of The BizLink Philippines Incorporated, sign the memorandum of agreement. (Photo by Ernie Esconde)

FAB chairman Emmanuel Pineda made the announcement during the signing of a memorandum of agreement (MOA) on Wednesday, Sept. 26, between FAB and The BizLink Philippines Inc., represented by its president Virgilio Pagulayan.

BizLink is a Korean technology firm that offers “insight and network to transform businesses”, according to its website.

“It is the 137th company in the Bataan freeport. It is one of the biggest investors in FAB,” Pineda said. “It will invest $1 billion or around P54 billion.”

Pineda said the company is seen to generate 10,000 jobs upon full completion of its projects in three sites. It will also develop a 26-hectare property for a mixed use complex.

The Korean firm will build a multi-storey building which will house an IT school that intends to have 1,000 graduates every year.

“I will see to it that with the help of the people around me, we will deliver what is expected of us,” Pagulayan said.

There are currently 41,000 employees who are working in 136 multi-national companies inside the freeport. — Ernie Esconde (PNA)

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