South Korean manufacturer Phoenix Semiconductor Philippines Corp. invested another $170 million to expand its manufacturing operation in Clark Freeport Zone.
Clark Development Corp. president and chief executive Noel Manankil said the second phase of the expansion project brought Phoenix’ total investments to $7.7 billion since operations started in 2010.
The expansion will involve the construction of PSPC’s Phase 2 semiconductor assembly and testing facilities within the company’s manufacturing center in Clark.
Phoenix was the top exporter in Clark with shipments valued at $1.6 billion. It employs 1,600 workers in the facility.
Manankil said the company was equipped to double the facility’s manufacturing capability and employment.
Phoenix Semiconductor Philippines president Lee Byeongchun said he was hopeful the company would contribute to the development of the local industry and businesses.
“In the next seven years, we hope to be able to duplicate, if not exceed, the advances we made since 2010 and with the support of our business partners both present and future”•Taiyo Nippon and Anda Power among others”•CDC acting as our official link with the national government, and with the guidance of our mother company, SFA Semicon Co. Ltd., we commit to a better future for Clark, for Pampanga and for the Philippines, through our Phase 2 project,” Lee said.