Dagupan City, Pangasinan – Senatorial candidate and former Ilocos Sur Governor Luis “Manong Chavit” Singson emphasized the importance of industrialization as a driver of economic growth in the Philippines. Speaking at a press conference at the CSI Stadia on Thursday, Singson shared his insights based on his success in South Korea, where his businesses have thrived.
Manong Chavit, the chairman of the LCS Group of Companies, highlighted his ownership of two economic zones in South Korea and his leadership in helping local companies establish operations overseas.
“Yun ang tinututukan ko, ang industrialisasyon ng ating bayan. Sa ganong paraan, lahat ng tao dito ay magkakaroon ng trabaho,” he said, stressing the need for job creation to strengthen the nation’s economic landscape.
He proposed the establishment of additional economic zones in the Philippines, emphasizing the need to eliminate bureaucratic hurdles. Singson pointed to the recently signed Memorandum of Understanding (MOU) for the construction of the K-Beauty Industrial Complex in Incheon, South Korea, as a model that can be replicated locally.
“Nagawa ko ito sa Korea, bakit hindi ko magawa dito sa Pilipinas? Ang pagtatayo ng K-Beauty Industrial Complex sa Incheon ay siguradong magdudulot ng karagdagang trabaho para sa mga tao dun, kaya dapat dito rin sa atin magkaroon ng mga ganitong klase ng ecozones,” Singson added.
The K-Beauty Industrial Complex is set to become a hub for research, production, and trade in beauty and aesthetic products, aligning with South Korea’s globally renowned cosmetics industry. Singson’s company, LCS Group, has also committed a $100 million investment to a residential, commercial, and resort development project in South Korea’s East Coast Free Economic Zone (EFEZ), marking the first of its kind in the region.
While the LCS Group primarily focuses on property development in the Philippines, it also operates in mining, transportation, defense, logistics, and telecommunications. The company’s real estate assets in the Philippines, including Metro Manila, are valued at approximately 2 trillion won ($1.7 billion), while its gold mining ventures are estimated at around 2.5 trillion won.
Singson believes these accomplishments underscore the potential of industrialization in fostering economic growth and providing opportunities for Filipinos.