The Authority of the Freeport Area of Bataan (AFAB) welcomed its esteemed guests from the Republic of Korea, Genesis BBQ Group, a corporation engaged in food chain business, commercial enterprises, hotel operations, and other tourism-related ventures. Said is set to establish its business operations within the Freeport Area of Bataan (FAB) Main Zone and FAB Expansion Areas (FEAs) within the Province of Bataan starting with a PHP 3.9-B investment.
Genesis BBQ delegates are set for a 3-day stay in the country packed with business and tourism activities for a better appreciation of Bataan and its strategic areas for development. The visitors arrived in the country to sign a Memorandum of Understanding (MoU) with the AFAB and join in a series of tours around the proposed areas for development in the FAB including the Central Business District, Yacht Club Area, Factory Tour, Golf Course, and a rolling tour within the FAB Main Zone. The group is represented by its Chairman and Chief Executive Officer Hong-Geun Yoon and other corporate representatives Allen Yoon, Dan Kim, Kim Sungwoo, Keunhee Lee, Minsoo Lee, and Mikyung Jang.
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Said visit marks the immediate result of AFAB Administrator & CEO Pangandaman’s successful investment mission in South Korea in November 2023 and a follow-up visit in January 2024. Together with the Office of the Administrator Group Head Atty. Percival Peralta, Registration Division OIC Alejandro Sugatain, through the Philippine Trade and Investment Center (PTIC) – Seoul, the AFAB team met with Genesis BBQ Group Founder and Chairman Hong Geun Yoon to present different investment opportunities in the FAB. In this mission, Chairman Yoon was delighted with the AFAB’s visit and committed to studying every possibility of putting up various businesses in the FAB.
Said continued and persistent efforts of AFAB have successfully forged promising collaborations with Korean entities during these investment missions. The AFAB has consistently responded to the PnB Group Co. Ltd. invitation to chase after fruitful discussions and partnerships in various sectors, including financial technology, IT-related projects, the importation of Korean products, resort development, and manufacturing. AFAB and PnB Group strived to lay the foundation for a robust partnership that could mutually benefit both parties.
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Key partnerships emerged during these trips, further expanding AFAB’s scope of potential collaborations. Notable among these interactions were meetings with Genesis BBQ Group eyeing AFAB for resort development and product importation. As AFAB Administrator & CEO Pangandaman returned from these trips, the seeds of collaboration have been sown, as he has encouraged Korean investors to explore and invest in the diverse opportunities within the FAB.
This signals only the beginning of a future of dynamic ventures and shared successes between AFAB and its Korean counterparts.