A South Korean furniture maker is expanding its operations in the Philippines, shelling out P50 million to build a factory in the Clark Freeport Zone.
Punta Design Inc. President and CEO Byung Mo Lee signed a lease agreement with Arthur Tugade, president and chief executive officer of state-run Clark Development Corp. (CDC), covering the construction of a manufacturing hub in Pampanga’s freeport.
The factory will rise within a 9,314-sqm property in Clark Freeport.
Punta Design has been a registered sub-lessee in the freeport since 2014. The company designs and manufactures furniture and related accessories.
CDC said the factory would be up and running by September this year, and will employ 100 workers.
The Korean firm aims to “revolutionize” the rattan industry by using the most modern system and machine tools for a small-scale furniture factory.
“Furniture is an art, and the person who has dreams would move forward, but the person who is already satisfied with his situation will stop,” Lee said.
Punta Design Philippines is an affiliate of Punta Design USA.