Korean technology titan Samsung will infuse P50 billion in investments to the country amid the price struggle of the company’s stocks at the Korean Stock Exchange.
“Samsung is talking to us for a possible investment of more than P50 billion. They’re applying under the incentives for CREATE and many more,” Finance Secretary Ralph Recto during an interview with foreign news outfit Bloomberg.
This was earlier revealed by Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go to select members of the media.
In a separate report from Reuters, Samsung Electronics Co. co-chief executive officer Han Jong-hee disclosed that it is looking at major transactions to drive growth as the firm has been suffering from weak earnings and sagging stock share prices in recent quarters after falling behind rivals in advanced memory chips and contract chip manufacturing.
Reuters reported that shares in Samsung tumbled by nearly a third last year and hit a four-year low in November, while those of rival SK Hynix climbed 26 percent.
In November 2024, Samsung launched a share buypack plan worth 10 trillion won ($7.2 billion), the report further stated.
Samsung is South Korea’s most valuable company, with a market capitalization of $235 billion, accounting for 16 percent of the total value of the country’s main bourse.
Nearly 40 percent of investors in South Korean stocks own Samsung shares, according to the report.
Recto, during the Philippine Stock Exchange’s (PSE) InvestPH 2025 event in Bonifacio Global City on Wednesday, said establishing Green Lanes has streamlined processes to attract more foreign firms to expand their operation in the country, while the Public-Private Partnership Code and the CREATE MORE Act have positioned the country as a prime investment destination.
“CREATE MORE is designed to bring you in, help you grow, keep you here and give every reason for you to place your trust in the Philippines, again and again,” he said.
In November 2024, President Ferdinand R. Marcos Jr. signed Republic Act 12066 or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act into law.
It aims to generate jobs and spur economic growth, building on the earlier CREATE Act by enhancing the tax regime and incentive framework to attract both domestic and international investments, particularly, in strategic industries.
The CREATE MORE Act took effect on 28 November 2024.
Recto added the Philippines’ exit from the Financial Action Task Force gray list also bodes well for the expected passage of the Capital Markets Efficiency Promotion Act.
The CMEPA will reduce the stock transaction tax from 0.6 percent to 0.1 percent to align