Hyundai PH throws support behind semiconductors, electronics group

Hyundai Asia Resources, Inc. (HARI) recently expressed support for the country’s semiconductor and electronics group in its 1st Quarter General Membership Meeting and Partners of the Industry Award.

The online program, conducted by the Semiconductor and Electronics Industries Foundation, Inc. (SEIPI), was held last January 27. More than 200 executives and industry practitioners from the semiconductor and electronics sector attended the virtual event themed “Recharging the Industry and Economy through Transformational Leadership and Resilience”.

 In a statement, HARI said that the support signifies the company’s “unwavering commitment as a trusted lifetime partner of businesses and industries to spark Filipino entrepreneurship and drive the ascent of the nation’s economy even amidst the extraordinary circumstances of the times.” 

 “We are one with the industry players like SEIPI in reigniting the economy and restoring confidence in the business sector through initiatives and strategies guided by transformational leadership and resiliency,” HARI President and Chief Executive Officer Ma. Fe Perez-Agudo said.

“Hyundai has always been committed to broadening its corporate horizon and opening up avenues to move opportunities and deliver success to our customers despite present challenges,” she added,

Gracing the virtual meeting were Vice President Maria Leonora Robredo, Presidential Adviser for Entrepreneurship and Go Negosyo Founder Jose Ma. Concepcion III, Anti-Red Tape Authority (ARTA) Director-General Jeremiah Belgica, Philippine Economic Zone Authority (PEZA) Director-General Charito Plaza, First Gen Corporation and First Philippine Holdings Corporation President and CEO Francis Giles Puno, SEIPI Chairman Glenn Everett, and SEIPI President Dr. Dan Lachica. 

In his welcome remarks, Lachica conveyed that despite the situation, the industry remains optimistic “with the resolve to overcome any challenges for our industry to recover, and the desire to further grow not only for the semiconductor/electronics industry but for the country’s economy.” 

The SEIPI’s industry report noted that in 2021, the country’s overall electronics export grew by a record-high US$45.92 billion — or 12.9-percent higher than US$40.67 billion in 2020. Electronics account for 61.52 percent of the total Philippine exports in 2021.

Everett said that SEIPI is eyeing to experience a 10-percent export revenue growth  for 2022.

 “The Board of Trustees is generally optimistic about our growth in 2022 but it depends upon the improvements to inbound and outbound logistics flows, supply chain, the health of the population, and to the continuing opening of the country,” he said during an online presentation. 

Further, Everett cited the role of emerging technologies to attract more potential investments such as the metaverse, automotive AI, advanced driver assistance systems (ADAS), and connected cars. 

Meanwhile, HARI cornered 8.8 percent of the commercial vehicle industry last year and showed the highest overall growth at 206.9 percent. The company attributed the strong demand for its trucks and buses like the Hyundai MedTRX series, County, Universe, Xcient, as well as the HD50S and HD48GT modern public utility vehicles.

“We make it better not only for ourselves but for others. As a brand of innovation and mobility solutions, we are poised to create valuable and positive change for a stronger, safer, and more sustainable society,” Agudo shared.

Photos from Hyundai Asia Resources, Inc.

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