As the Filipino government is pushing ahead with plans to electrify the rural areas and remote islands, it is estimated the country's electric power equipment demand would rise 7 to 9 percent a year for decades to come. Only a few years ago, most electric power equipment suppliers in the Philippines relied heavily on Japanese and U.S. companies for equipment. But more and more suppliers are turning to Korea for such needs.

 

Koo Ja-Kyun, LS Industrial Systems vice chairman, said, "The Philippines is a bridgehead for us to move into wider Southeast Asian and South Asian markets. By cementing our position in this country, we will aggressively enter Southeast Asia."

 

The Filipino Department of Energy Secretary Carlos Petilla said, "We will actively support private companies trying to move into our electric power market as long as they help us relieve the electricity shortage problem."