Tugade and Yang sign MOA. PHOTO BY ASHLEY MANABAT
CLARK FREEPORT – The first investor for 2014 signed a memorandum of agreement (MOA) with the Clark Development Corp. (CDC) on Monday with the introduction of a brand new concept for industrial manufacturers here.
Joontaik Jang, president of Sambon Precision and Electronics Co., Ltd. and Seunghoon Yang as advisor to the manufacturing fi rm, signed a MOA with CDC President- CEO Arthur Tugade at the Holiday Inn Resort here under the new “supply chain concept.”
Sambon is a manufacturer of electronic components like speakers, earphones and headphones among, others in relation to the audio industry for companies such as JVC. Tugade explained that the concept of supply
chain is pegged on the nearby Clark International Airport (CIA) and the seaport in Subic with the manufacturing fi rm’s suppliers putting up their warehouses near it for a seamless interaction.
Tugade said it was former President Fidel V. Ramos that introduced him to the Sambon executives. “I have some friends who want to put up a business in the Philippines,” Tugade quoted the former president as telling him.
He said he assured the former president that after the introduction he will do the rest. Sambon has a $10-million investment in China and hires 2,000 employees for its manufacturing firm. Jang said Sambon
will initially invest $3 million in Clark and hire 100 employees who will be trained for three months as line leaders.
Jang said they finally chose Clark because of “the people who showed them character and utmost hospitality in their no nonsense business dealings.” Sambon will be located at the commercial center here at Claro M. Recto Highway. Jang said his company will begin manufacturing audio components by July or August this year.
Meanwhile, Tugade said after FVR’s introduction, several meetings were held with Sambon executives and CDC Vice President Mariz Mandocdoc and Assistant Vice President Evangeline Tejada beginning April last year.
But Tugade revealed that five months later in September, nothing was yet sure. However, in October Sambon finally decided to choose Clark, Tugade said. “I am very happy because this is a contract where negotiations started during my term as CDC president and this means a lot to me since I will be introducing a new concept in Clark, the concept of supply chain,” the top CDC executive said.
“You come to Clark I will allow you to put up your suppliers around your area so you will have your supply chain.
There is your airport in Clark and a seaport in Subic that will enable you to put up your supply chain and this is a concept I would like to introduce. You get a reputable manufacturing company and you will have your suppliers around and so you create a supply chain which is very important for manufacturing concerns,” he said.