Philippines Top 10 Business Group LCS Chairpersons Visit Incheon City... "Intention to Invest in Songdo"

LCS Group, ranked among the top 10 business conglomerates in the Philippines, has expressed its intention to invest in the 'K-Beauty Industry Cluster' in Songdo International City, Incheon.

On the 23rd, the Incheon Free Economic Zone Authority announced that on the 22nd, the chairman group of the Philippine LCS Group, led by Chairman Shavit Singson, visited Incheon City and conveyed this investment intention.

The meeting was attended by Yoo Jeong-bok, Mayor of Incheon, Yoon Won-seok, Head of the Incheon Free Economic Zone Authority, and Choi Mi-ri, Senior Vice President of Gachon University. From LCS Group, besides Chairman Shavit Singson, the delegation included Richelle Singson, who is currently the 19th member of the Philippine House of Representatives and Vice Chairman of LCS Group, Rico Abareintos, CEO, as well as the Deputy Minister of the Philippine Technical Education and Skills Development Authority (TESDA) to explore research and development cooperation, and Manny Pacquiao, a former boxing world champion and senator, who also attended the meeting.

Incheon Mayor Yoo Jeong-bok is talking with Shabit Singsong, chairman of the Philippine LCS Group, on the 22nd at the city hall reception room.
[Photo by Incheon City]

Shavit Singson, Chairman of LCS Group, highlighted the competitiveness of Korea's K-Beauty and bio industries and expressed a desire to cooperate with domestic beauty companies and universities regarding the provision of customer services to the Philippines and the introduction of professional workforce training programs. He also conveyed his intention to officially submit a letter of intent for investment soon, considering Songdo, Incheon as the optimal investment location.

Mayor Yoo said, "We welcome LCS Group's investment interest in Incheon," adding, "We hope that this investment interest will materialize into a business plan and establish a foundation for the K-Beauty industry in Incheon."