Korean investors from Hanjin Corp. have packed up and are reportedly leaving the $2-B shipyard complex project in Tagoloan and Villanueva in Misamis Oriental because of "too much politics."
Reports received by ABS-CBN Northern Mindanao said the Koreans are no longer interested in pursuing the billion dollar project because of politicking in the local government level.
They also complained that they officials earlier assured them of being given an environmental compliance certificate (ECC). However, the Koreans were later denied the ECC.
Officials tasked of issuing the ECC declined to explain.
Hanjin officials have declined to grant media interviews for fear of reprisal from government officials.
Some of the Koreans have already left for Manila for the flight to South Korea on Monday.
Hanjin started to clear the 400-hectare land in Villanueva and Tagoloan towns for the shipbuilding starting February this year. They started training hundreds of welders since March. Hanjin needs 40,000 skilled workers to build huge and modern ocean vessels.
Following the withdrawal of Hanjin, hundreds of skilled workers who are hoping to land jobs are now fearing for their future.
Another multi-billion project in the province -- the Laguindingan International Airport -- might be affected by the Koreans' withdrawal.
Reports received by ABS-CBN Northern Mindanao said the Koreans are no longer interested in pursuing the billion dollar project because of politicking in the local government level.
They also complained that they officials earlier assured them of being given an environmental compliance certificate (ECC). However, the Koreans were later denied the ECC.
Officials tasked of issuing the ECC declined to explain.
Hanjin officials have declined to grant media interviews for fear of reprisal from government officials.
Some of the Koreans have already left for Manila for the flight to South Korea on Monday.
Hanjin started to clear the 400-hectare land in Villanueva and Tagoloan towns for the shipbuilding starting February this year. They started training hundreds of welders since March. Hanjin needs 40,000 skilled workers to build huge and modern ocean vessels.
Following the withdrawal of Hanjin, hundreds of skilled workers who are hoping to land jobs are now fearing for their future.
Another multi-billion project in the province -- the Laguindingan International Airport -- might be affected by the Koreans' withdrawal.