Jasco Holdings Signs MOU with Mindanao Development Authority... "Expanding Cooperation on Nickel Project"

From the left, Romeo M. Montenegro, Deputy Secretary of the Mindanao Development Authority (MinDA); Leo Tereso A. Magno, Chairperson and Secretary of the Mindanao Development Authority (MinDA); Sangmin Han, CEO of Jasco Holdings; Sungwook Oh, President of Jasco Holdings.

Jasco Holdings announced on December 15 that it has signed a memorandum of understanding (MOU) with the Mindanao Development Authority (MinDA) of the Philippines regarding a nickel project and the development of related industries in the Mindanao region.

Jasco Holdings plans to pursue a nickel project with MinDA, including the establishment of a nickel smelter in the Mindanao region. The two parties have agreed to exchange information on regulations, technology, investment, and infrastructure related to the project, and to cooperate during discussions with the Philippine central and local governments as well as relevant agencies. Additionally, they have agreed to jointly identify opportunities for collaboration in downstream industries that could extend beyond nickel smelting and processing to advanced manufacturing sectors such as battery materials in the future.

This MOU was signed during the 'Korea-Philippines Business Forum and Networking Session,' with officials from both the Philippine and Korean governments and companies in attendance.

MinDA selected Jasco Holdings as a key partner among Korean companies for major discussions and cooperation related to the nickel project. Through this partnership, Jasco Holdings has secured a direct cooperation channel with the government agency overseeing Mindanao’s development strategy. The company explained that this positions it advantageously for promoting projects in collaboration with the Philippine central and local governments as well as private companies in the future.

A representative from Jasco Holdings stated, "Mindanao is a region rich in resources and growth potential, making it a very important strategic partner from a long-term perspective for Korean companies. This MOU with MinDA is significant as it marks the starting point for jointly designing a value chain that extends beyond simply supplying minerals to include smelting and battery materials industries."

The representative added, "Going forward, we aim to strengthen cooperation with MinDA and related Philippine organizations to make the Mindanao nickel project a joint success story for both Korea and the Philippines."