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South Korean firm donates site for housing reporter, Zambales

July 26, 2012

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South Korean firm Hanjin Industries & Construction announced yesterday it has donated 30 hectares of land in Zambales province to be turned into worker housing close to its huge ship-building facility. At a ground-breaking ceremony at the site, Malen Acosta, vice-president of the government’s home development mutual fund, said the state would provide 1.5 billion pesos (US$43.88 million) for the construction of 2,700 homes on the site. Hanjin Village is located less than 20 kilometers from the shipyard which employs 20,000 workers. The first 1,000 homes will be completed in 2013 at prices lower than the market rate and at favorable lending conditions, said Acosta. Hanjin is only the second company in Luzon to provide staff housing.
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