A SOUTH Korean firm announced that it intends to establish its operations within the Freeport Area of Bataan (FAB).
Genesis BBQ Group, which specializes in various business ventures such as food chains, commercial enterprises, and tourism-related activities in South Korea, will invest around P3.9 billion to start its operations that is seen as a significant boost to Bataan’s economy.
During their three-day visit, the Genesis BBQ delegates, who were welcomed by the Authority of the Freeport Area of Bataan (AFAB), engaged in a series of activities aimed at deepening their understanding of Bataan and its potential for development. This included the signing a Memorandum of Understanding (MoU) with AFAB and participating in tours of key areas within the FAB, such as the Central Business District, Yacht Club Area, and Golf Course. The delegation, led by Chairman and CEO Hong-Geun Yoon, expressed keen interest in exploring business opportunities within the region.
The visit by Genesis BBQ Group is a direct outcome of AFAB’s successful investment missions in South Korea, led by AFAB Administrator & CEO Pangandaman. These missions, which took place in November 2023 and January 2024, laid the groundwork for fruitful collaborations between AFAB and Korean entities, particularly in sectors such as financial technology, IT projects, resort development, and manufacturing.