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Korean Company, Set to Invest in San Rafael
Friday, 14 October 2011
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From left to Right: Mark Silverio Dee, Consultant of PDC Techno Park, Jin Soo Lee of Do Young Apparel, Sua Fam, Mayor Lorna Silverio, Bo Seun Kim, President of Cotton Club Co. Ltd., DTI Malolos Provincial Director Zorina Aldana and Gi Geom Kim posing for a souvenir photo during their visit in San Rafael, Bulacan. View Larger Image.
“Cotton Club Co. Ltd (CCCL) from Seoul, Republic of Korea is set locate their garment manufacturing business in the booming town of San Rafael, Bulacan”, told Zorina Aldana, Provincial Director of DTI Bulacan.

Said investment was committed after the Korean’s visit in the newly established PDC Techno-Park San Rafael last May 11, 2011.

With the availability of building ready to occupy anytime they want, coupled with the incentive being offered by the national and local government of San Rafael, Bo Seun Kim, President of CCCL, made them decide to infuse sizeable investment here.

Mayor Lorna Silverio and officials of DTI, Pilipinas Development Corporation and this town warmly received the delegation composed of Bo Seun Kim, Sua Fam of CCCL and Jin Soo Lee of Do Young Apparel Co. Inc.

Mayor Silverio briefed the Koreans about the municipality of San Rafael, what they could offer to investors and how ready they are in hosting foreign investment. “Aside from the income tax holiday offered by PEZA or BOI, our municipal government under the Local Incentives Code of San Rafael provides incentive to qualified foreign and local investors who will locate in this town”, said Silverio.

Aided with audio-visual presentation “Why invest in San Rafael", the Koreans were amazed by the proactive stance of the local chief executive to attract investments in the area.

Thru the assistance of DTI Director Aldana, the Koreans are now in the process of business documentation with the Board of Investment for the availment of tax holiday and with the Bureau of Customs (BoC) for Common Bonded Warehouse.

A separate walk-through visit by Gi Geom Kim of CCCL was conducted in BOI-Makati and BoC last May 19, 2011. BOI Director Dennis Miralles and Director Stephanie Fernando explained the requirements and procedures in applying for incentive and common bonded warehouse; respectively.###

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