POSITIONING Mindanao as the Philippines’ next major growth frontier, the Mindanao Development Authority (MinDA) has formalized a series of strategic partnerships with five Korean companies, signaling growing international confidence in the region’s economic prospects and long-term investment potential.
The agreements were sealed during the Philippines–Korea Business Forum and Networking Session on December 10, 2025, where MinDA, led by Chairperson Secretary Leo Tereso A. Magno, advanced its push to attract foreign capital into industries seen as critical to Mindanao’s sustainable and inclusive development.
Opening Mindanao to global investors
Addressing Korean business leaders on behalf of the Philippine government, Magno underscored the Marcos administration’s commitment to nurturing an investor-friendly climate and easing the path for foreign enterprises seeking to operate in the country’s southern region.
“President Ferdinand Marcos Jr. has given us clear instructions in government: to provide assistance to all interested investors, not to give them red tape, but a red carpet. We invite you to make Mindanao your next investment destination.”
The message echoed the administration’s broader economic strategy of reducing regulatory bottlenecks while encouraging partnerships that generate jobs, strengthen industries, and support regional development.
Diverse industries, long-term impact
The newly signed MOUs cover a wide spectrum of sectors, highlighting Mindanao’s expanding role beyond traditional agriculture and mining. The partnerships include initiatives in traffic management and personal safety, water treatment and disaster mitigation, environmental consulting and renewable energy, solar power generation, and nickel processing with associated industrial facilities.
One of the flagship collaborations involves JSCO Holdings Inc., which is exploring a large-scale nickel processing venture that could include a smelter and downstream industries. The project is expected to enhance value-added production, create employment opportunities, and elevate Mindanao’s standing in the global minerals supply chain.
Another agreement with REFLOMAX Co., Ltd. focuses on traffic and personal safety technologies, supporting infrastructure modernization efforts and improving safety standards in both urban and growth areas across Mindanao.
CHUNGWOO E&E Co., Ltd. will partner with MinDA on water treatment and disaster prevention facilities, projects aimed at expanding access to clean water while strengthening the region’s preparedness against natural hazards.
Sustainability initiatives are also central to the collaboration. SSKK Solution Co., Ltd. committed to environmental consulting, renewable energy development, and greenhouse gas reduction programs aligned with climate goals, while Hanchang Energy Co., Ltd. will pursue solar power generation and renewable energy infrastructure to help diversify Mindanao’s energy mix and improve energy security.
Korea’s expanding economic footprint
Philippine Ambassador-Designate to South Korea Bernadette Therese Fernandez placed the agreements within the wider context of strong bilateral relations, noting Korea’s enduring economic presence in the Philippines.
“Korea remains the top source of foreign tourists to the Philippines. It is also the Philippines’ 4th largest trading partner in 2024, with total trade amounting to USD 9.89 billion — including USD 2.81 billion in exports and USD 7.08 billion in imports,” Fernandez said.
She added that South Korea also ranks as the Philippines’ fifth-largest development partner, with USD 1.33 billion in active loans and grants supporting various initiatives nationwide.
MinDA Deputy Executive Director Assistant Secretary Romeo Montenegro reinforced this view, noting that Korean firms continue to rank among the country’s leading foreign investors.
Private sector optimism
From the Korean business community, JSCO Holdings executive Wee Yong-ho, whose company already has investments in the Dinagat Islands, expressed optimism about Mindanao’s investment climate and incentives.
“Mindanao, Philippines offers exceptional incentives for foreign investors like us. I warmly invite more partners to bring their interest to Mindanao and take part in its promising future.”
His remarks reflect growing confidence among foreign investors in Mindanao’s capacity to support large-scale and long-term projects.
Provinces take the spotlight
The Seoul engagements also allowed local leaders to directly pitch their provinces to potential investors. Governors Nilo Demerey Jr. of Dinagat Islands, Edwin Jubahib of Davao del Norte, and Henry Oaminal of Misamis Occidental presented business and tourism opportunities, underscoring the diversity of economic prospects across Mindanao.
Their participation complemented MinDA’s national-level push by aligning investment promotion with local development priorities.
Scaling up investment programs
Earlier this month, Magno told local business journalists that MinDA plans to expand its economic and investment initiatives in 2026, beginning with long-awaited MOUs with several partner agencies. He disclosed that funding from international partners continues to increase.
“We have funding coming from the European Union, ADB, JICA, and other partners,” he said.
Magno cited recent grants, including two separate US$10-million packages—one earmarked for the seaweed industry in Tawi-Tawi and another for development efforts in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). He also pointed to rising interest from Middle Eastern and ASEAN investors.
“Business groups in Qatar are very interested to partner with us, especially in BARMM,” Magno said. “There is so much attention being given to Mindanao right now because they know Mindanao deserves to be developed.”
Positive economic signals
Magno also pointed to improving economic indicators across Mindanao, citing easing inflation and declining poverty and unemployment levels as signs of progress.
“All indicators show that Mindanao is on an upward path,” he said. “Inflation has returned to acceptable rates, and our contribution to national GDP has improved.”
The agreements with Korean firms, alongside expanding international support, reflect how the government’s push to welcome investors is translating into tangible opportunities—reinforcing Mindanao’s emergence as a key driver of the Philippines’ future economic growth.