Wednesday, 1 September 2010

Hanjin of Korea to employ over 5,000 workers

by Julito G. Rada
Manila Standard
http://www.manilastandardtoday.com/insideBusiness.htm?f=2010/september/1/business2.isx&d=2010/september/1

Hanjin Heavy Industries Corp. Philippines will increase its workers in the Subic Freeport by over 5,000 after signing a contract to build 20 more vessels worth about $1.2 billion, the government said Tuesday.

Taek Kyun Yoo, general manager for external business of unit Hanjin Heavy Industries Corp.-Philippines, said the Korean shipbuilding giant would create more jobs at its Redondo Peninsula shipyard in Subic, Zambales to increase its workforce to 22,000 by the end of 2010 from the current 16,600.

Taek said the company’s order book rose to 56 vessels worth about $4.9 billion. He told Zambales Gov. Hermogenes Ebdane Jr. that Hanjin’s manpower requirements would further increase to 24,000 in 2011 and 25,000 in 2012.

Armand Arreza, Subic Bay Metropolitan Authority administrator, said Hanjin had remained Subic’s top exporter since last year. The Korea company registered exports with freight on board value of $372.74 million in the first half of the year.

“We expect Hanjin to remain as the Subic free port’s top exporter for the next few years, and to fuel the growth of Subic’s maritime industry,” Arreza said.

He said the SBMA expected Subic’s export FOB value to grow in the coming months, as Hanjin and other free port enterprises rolled out more products amid brightening prospects in global trade.

Ebdane said the increasing job generation at the Hanjin shipyard “augurs well for the development of the Zambales province, and to local efforts to strengthen the economic empowerment of Zambaleños.”

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