Phillips Group, signs LOI with the Duterte Government for Philippines …

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작성자 최고관리자 조회 366회 작성일 18-11-06 16:04


By: Kim Jin-Woo (                 Published: 2018.09.20 19:33

?[05 June 2018? handshake between Philippines President Rodrigo Duterte (left) and Mr Bang Seung-ho, the Chairman of Phillips Group (right). Photo in the right circle is a greeting after signing the agreement with the Philippine Minister of Commerce and Industry (right)] 

Phillips Group (Chairman Bang Seung Ho) announced on July 21 that it will actively enter the Philippines government’s modernization project of 450,000 jeepneys, total worth of KRW 6,500 Billion.

The jeepney modernization project promoted under the Rodrigo Duterte government is based on replacing over 20 million old jeepneys into modern jeepneys with diesel engines or electric; since old jeepneys are the main causes of air pollution and traffic congestion.

Earlier on 05 June, Phillips Group signed an LOI during the business ceremony at Lotte Hotel in Seoul; which was held after the summit meeting between President Duterte and the South Korean President Moon Jae-in, on 03 June.

“Jeepney began as a remodeling of military jeeps left by the US military after World War II, and today, it is produced in various designs, as a unique mode of transportation carrying millions of Filipinos ever day,” said CEO Kim Yong-gil of Phillips Electric Car.

He also said, “we have worked closely with government officials in Philippines such as Department of Trade, to join the Jeepney Modernization Project.”

Phillips Group recently concluded an exclusive license agreement with Swiss Bike (President Moreno Fioravanti), the brand holder of PHILLIPS, a 126-year-old authentic brand; and Phillips Group has been developing marketing plans for its domestically produced EV vehicles for markets in Asia and Europe.

PHILLIPS brand was founded in Birmingham, England in 1892. Starting with mass production of bicycles, Phillips produced military vehicles and tanks for Allied Special Forces during World War I. Since then, South Korean entrepreneur Mr Seung-ho Bang, has acquired the license of Phillips brand from the UK, setting up various businesses such as Phillips Electric Car, Phillips Energy, Phillips Construction and Phillips Retail.

Today, Phillips Electric Car is expanding its horizons to Asia and Europe areas, taking on the spirit of ‘Phillips’, and continuing the brand’s big history.

CEO Kim said, “The first overseas export contract for the domestically produced Phillips electric vehicles was concluded with the signing of this business agreement”. He also emphasized, “we will continue to expand into the global market through providing safer, and smarter high quality services to customers who choose Phillips electric car products.”

<Translated> Original Article: