“Industrialization is needed for this country to attain economic growth.”

This was the statement made by Senatorial candidate and former Ilocos Sur Governor Luis “Manong Chavit” Singson during a press conference held at the CSI Stadia in this city on Thursday.

Manong Chavit cited this was proven in South Korea where his businesses are booming. Manong Chavit, who is also the chairman of the LCS Group of Companies, owns two economic zones in South Korea and has been at the Philippines' forefront in local companies operating in foreign soil.

“Yun ang tinututukan ko, ang industrialisasyon ng ating bayan. Sa ganong paraan, lahat ng tao dito ay magkakaroon ng trabaho,” he said, adding that what the country needs is additional jobs to create a more robust economic landscape.

A tried and true method, he said, is the creation of more economic zones in the country but without the red tape. With the recent signing of a Memorandum of Understanding (MOU) for the construction of the K-Beauty Industrial Complex in Incheon, South Korea, Singson said that this can easily be done in the Philippines.

“Nagawa ko ito sa Korea, bakit hindi ko magawa dito sa Pilipinas? Ang pagtatayo ng K-Beauty Industrial Complex sa Incheon ay siguradong magdudulot ng karagdagang trabaho para sa mga tao dun, kaya dapat dito rin sa atin magkaroon ng mga ganitong klase ng ecozones,” he added.

The former Narvacan mayor said that the K-Beauty Industrial Complex will serve as a hub for research, production, and trade in beauty and aesthetic products, aligning with South Korea’s advanced cosmetics industry.

His company, the LCS Group of Companies, has committed $100 million investment in a residential, commercial and resort development project on South Korea’s eastern coast. He added that the Mangsang District 1 development project in the East Coast Free Economic Zone (EFEZ) will be the first of its kind project in Korea.

LCS Group focuses on property developments in the Philippines, but also works on other sectors such as mining, transportation, defense, logistics and telecommunication towers.

He said that the value of the LCS Group real estates across the Southeast Asian country including Manila mounts to about 2 trillion won ($1.7 billion), while its gold mines are estimated at around 2.5 trillion won.