A Korean manufacturer of pre-fabricated deck plates for the construction industry plans to establish a manufacturing facility in the Philippines.
Duckshin Housing Co. Ltd. president and chief executive Myung-Hwan Kim arrived in the country Sunday to look for a manufacturing site, according to public relations manager Jan-Yoong Koo.
“Nobody in the Philippines is manufacturing this kind of deck plates. We have not exported yet but with cooperation from our distributor, we will start exportation as soon as possible until we have set up our own facility here,” Koo said during the 27th Philippine International Construction and Exhibition in Pasay City.
Koo said the 10-percent compounded annual growth posted by the Philippine construction industry in the last five years captured the attention of the Korean deck plate manufacturer.
“Experts expect that the [Philippine] construction market will [post] record high growth due to the lack of residential and commercial spaces,” Koo said.
Duckshin is the biggest manufacturer of deck plates in Korea with market share of 30 percent. It has production plants in Cheonan and Gunsan.