Korean Investment Fuels New Clark City’s Tourism Hub Development   

• New Clark City, a planned tourism hub in Tarlac, Philippines, is entering a new stage of development following a major South Korean-backed investment, according to the Philippine Department of Tourism. The progress comes after Hann Philippines, a Korean-led investment company, signed a registration agreement with the Philippine Economic Zone Authority (PEZA) on June 23. It officially designates Hann Reserve, a large-scale integrated tourism complex in New Clark City, as a tourism special economic zone. The agreement launched the zone’s development with an initial investment of 10 billion Philippine pesos, or about 244.4 billion won. Covering 4.56 million square meters in Capas, Tarlac, Hann Reserve is planned as a mixed-use destination rather than a traditional resort. The initial phase will include the Philippines’ first PGA-affiliated championship golf course, a luxury clubhouse, and premium dining facilities. It is expected to create more than 220 jobs. Hann Philippines has also committed an additional 17 billion pesos, or about 415.5 billion won, for the first phase, with the new economic zone designation expected to speed construction. The project’s second phase, set for completion by 2030, will add residential and commercial districts, golf entertainment venues, an international school, a large public park, and a river golf course. The development is expected to complement the nearby Hann Casino Resort in Clark. PEZA officials hailed the agreement as a sign of “strong global investor confidence” in the nation’s economic zones. They said the project is expected to create jobs, support local businesses, and strengthen New Clark City’s appeal to both tourists and investors. Meanwhile, Hann Philippines plans to explore further developments in manufacturing, agro-industry, and information technology within the site. “This project represents another significant milestone in the Philippines’ ongoing efforts to strengthen its tourism infrastructure,” said Dr. Erwin F. Balane, tourism attache of the Philippine Department of Tourism in Korea. “We look forward to New Clark City emerging as a premier integrated destination where golf, leisure, luxury resorts, and business converge.” Yesel Kang Copy Editor teen/1785740107/1613367750