The Korean Government said a consortium of 23 public institutions and private companies has been established amid plans to build urban infrastructure and develop smart cities in the Philippines, according to the Bases Conversion and Development Authority (BCDA).
“The National Agency for Administrative City Construction [NAACC], led by Administrator KIM Hyeong Ryeol, is leveraging its expertise in the Administrative City Sejong development and international networks to support Korean companies entering the Philippine urban development market,” BCDA said in a statement on Monday.
The state-run agency said the NAACC announced on January 23,2025 the formation of “Team Korea to the Philippines,” a consortium consisting of 23 public institutions and private companies.
While the Korean side said it cannot disclose the names of these 23 firms and institutions, BCDA told the BusinessMirror in a Viber message on Monday that these entities belong to the sectors of “IT and software solutions, construction and engineering.”
The state-run agency said, however, that Team Korea is still in the “exploratory stage” in the Philippines.
“Team Korea will hold regular meetings with BCDA and the firms to explore where they can partner,” BCDA said, adding that the two sides plan to “secure tangible outcomes, including contract awards and joint urban development initiatives.”
Through these efforts, the Korean government agency aims to enhance Korea’s presence in the global urban development arena while “fostering mutually beneficial relationships with international partners like the BCDA.”
According to the state-run agency’s statement, since signing a Memorandum of Understanding (MOU) with the BCDA in September last year, the NAACC has been promoting collaboration on urban development initiatives.
The BCDA oversees major urban development projects, including New Clark City, and has expressed strong interest in attracting Korean companies to participate in building urban infrastructure and developing smart cities.
In response, the NAACC launched “Team Korea to the Philippines” to connect BCDA with Korean firms interested in entering the Philippine market, providing opportunities for project bids and “collaborative” ventures, the BCDA said.
The BCDA said the launch ceremony for Team Korea to the Philippines was attended by various entities responsible for operational support and sectional coordination, including the Korea Overseas Infrastructure and Urban Development Corporation (KIND), International Contractors Association of Korea, and Smart City Association, which will serve as a “key partner” in managing and organizing the consortium.
“Key participants included representatives from public institutions specializing in overseas infrastructure development and private firms with expertise in construction, smart city technology, and urban planning,” the BCDA noted.
From the Korean government agency’s standpoint, NAACC Administrator KIM Hyeong Ryeol said, “By sharing the successful experience and technology accumulated through the construction of Korea’s Administrative City Sejong, we aim to actively support Korean companies in their global ventures, particularly in the rapidly developing Philippine market.”
BCDA President Joshua M. Bingcang said, “We are confident that with Team Korea, we will be able to strengthen our alliance with partners who can help us transform the whole of Clark into Asia’s next investment and tourism destination.”
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Autor(en)/Author(s): Andrea E. San Juan
Quelle/Source: Business Mirror, 28.01.2025
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