Former senator Manny Pacquiao is eyeing a labor force exchange in the lucrative Korean cosmetic product manufacturing that has maintained a foothold in the Philippine market.
Pacquiao, together with longtime ally, ex-Ilocos governor Luis “Chavit” Singson, and Agrarian Reform Sec. Conrado Estrella flew to Incheon, South Korea, to explore investment opportunities.
Part of the plan of Pacquiao’s group is to tap the country’s premiere skills development training arm, the Technical Education and Skills Development Authority (TESDA), to train qualified Filipino workers for possible employment in the multi-billion dollar cosmetics manufacturing industry in Korea, with its main headquarter in the Incheon Free Economic Zone.
Pacquiao and Singson envision gradually expanding job prospects for Filipinos in other Korean business sectors while creating the same opportunities for Koreans willing to work in the Philippines.
The Commission on Filipinos Overseas currently estimates an increase of 70 percent of 70,000 Filipinos living in South Korea.
Korean nationals living in the Philippines, on the other hand, are estimated at more than 43,000.
The 8-time world division boxing champion and Singson also met with leading manufacturers of Korean electric vehicles to explore the possibility of building affordable alternative fuel vehicles under the Philippine government’s current transport modernization program.
Pacquiao said this will help the environment in the long-term to reduce deadly carbon emissions and Filipinos to cope with the cost of the present modernization program.
The prototype vehicles are expected to roll out within the year.
Pacquaio added that their planned US$ 100,000,000 investment in South Korea focuses primarily in creating, developing and improving livelihoods for Filipinos.
