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South Korean technology giant Samsung Electro-Mechanics Co. Ltd. is investing a fresh P50.7 billion capital in its manufacturing operations in the Philippines
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The project is expected to generate around 3,000 new high-technology jobs for Filipino engineers and technicians
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The investment forms part of Samsung’s global manufacturing expansion strategy
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The project will qualify for incentives under the CREATE MORE Act, which encourages reinvestment and job generation by existing investors
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The investment agreement was formalized through a supplemental deal between the Philippine Economic Zone Authority and Samsung Electro-Mechanics Philippines, witnessed by President Ferdinand Marcos, Jr.
South Korean technology giant Samsung Electro-Mechanics Co. Ltd. (SEMCO) is investing a fresh P50.7 billion capital in its manufacturing operations in Laguna, a move expected to create 3,000 new high-technology jobs, Philippine President Ferdinand Marcos Jr. announced on November 2.
The additional investment will finance facility expansion of the company’s local arm, Samsung Electro-Mechanics Philippines Corp. (SEMPHIL), located in Calamba Premiere International Park.
Marcos said the investment was finalized following a meeting with executives of SEMCO on the sidelines of the 32nd Asia-Pacific Economic Cooperation (APEC) summit in Busan, South Korea last week.
“Samsung is already in the Philippines. They have employed 8,000 Filipinos in their very, very high-tech manufacturing plant,” Marcos told reporters. “The products that they make in the Philippines are of the highest tech that you can imagine. And so that is very, very important for us.”
The President said SEMPHIL’s expansion project qualifies for fiscal incentives under the CREATE MORE Act, which seeks to streamline and enhance investment benefits to promote reinvestment and job creation.
Under the CREATE MORE Act, the President may grant tax perks for strategic investments, either in the national interest or upon the Fiscal Incentives Review Board’s recommendation. Qualified projects may enjoy income tax holidays, special corporate tax rates, enhanced deductions, and VAT or duty exemptions on imports and local purchases.
“They made a commitment of a little over P50 billion to expand. That translates into 3,000 new jobs,” the President said. “And again, the transfer of technology is going to be very important.”
Marcos witnessed the signing of a supplemental agreement between the Philippine Economic Zone Authority and SEMPHIL for the expansion plan. The project is expected to begin operations by July 2027.
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In a statement, the Presidential Communications Office said the investment further strengthens the Philippines’ role in the global electronics and electric vehicle supply chain, reflecting the country’s growing importance as a hub for advanced manufacturing.
SEMCO, based in Suwon, Gyeonggi, South Korea, produces a range of electronic components, including multilayer ceramic capacitors, inductors, resistors, camera modules, and package substrates. The company operates manufacturing and sales facilities across Europe, the Americas, and the Asia-Pacific region.
During the summit, Marcos also met with representatives of DL Group, whose subsidiary DL E&C has partnered with Meralco to develop small modular reactor (SMR) projects in the Philippines.
SMRs are compact nuclear power facilities designed to produce clean, reliable energy using less land and shorter construction times compared to traditional power plants.
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