Labor official lauds firm for housing project-A A +A
Tuesday, July 31, 2012
CITY OF SAN FERNANDO -- Department of Labor and Employment (Dole)-Central Luzon Director Raymundo Agravante commended Hanjin Heavy Industries Corporation-Philippines (HHICP) on Monday for a housing project for its employees.
The housing project dubbed as “The Hanjin Village” sprawls on a 30-hectare property in Castillejos, Zambales and is HHICP’s flagship corporate social responsibility program for its eligible employees, as well as its subcontractors.
Agravante said Hanjin will provide lots to their eligible employees for free, while subcontractors could avail themselves of units via the Home Mutual Development Fund’s (HMDF) or Pag-ibig Housing Loan Program at an affordable cost.
“I personally salute Hanjin for its initiative in empowering its workers through this project. This is a first here in Central Luzon. Through its corporate social responsibility, not only will their employees benefit from it, but their families as well. Through this affordable housing loan, this endeavor will boost productivity and growth for Hanjin and its people,” Agravante said.
HHICP managing director Teak Kyun Yoo, for his part, said that Hanjin partnered with well-known developer Fiesta Communities and HMDF for the project, which will be the community for 3,000 eligible employees of Hanjin, with facilities like a shopping mall, school, and recreational parks.
Yoo said the developer will be responsible for the construction, marketing, documentation and financing of the project, while HDMF will take charge of the equity-free housing loans at low interest rates to shipyard employees and in fast-tracking the loan approval of its eligible borrowers.
“Through our housing project, our employees can now avail (themselves of) our housing project at a very minimal cost. They need not cash-in any down payments or worry about the processing of their application,” Yoo said.
The monthly amortization for units at the Hanjin Village range from P2,000 to P5,000, depending on the house models priced at P399,000, P499,000, and P599,000. (Jovi T. De Leon)
Published in the Sun.Star Pampanga newspaper on July 31, 2012.