Korean SMEs eye PHL as their investment destination of choice

The Philippine Trade and Investment Center (PTIC) in Seoul provided the Department of Trade and Industry (DTI) capital office with an article recently published in the Korea Economic Daily (KED) citing the Philippines as the emerging overseas investment destination of choice for Korean small and medium enterprises (SMEs).
“KED is published in Korean language. It is one of Korea’s most widely read and respected economic dailies. Owned by a syndication of conglomerates that include Samsung, Hyundai, SK, and LG, it has a readership of at least one million,” PTIC Seoul Commercial Counselor Nicanor Bautista said.
In the article entitled “For Korean SMES, the Philippines is the emerging overseas investment destination of choice”, continuing global recession is cited as the major reason for the growing number of Korean companies eyeing the Philippines. It also mentioned other reasons like the Philippine average wage at about US$ 300 per month which is only half the wage in China, and the common use of English language in the country. [PNA]