Hanjin to Come Back?

A combination of both rumors and news has raised hopes of the eventual return of Hanjin Heavy Industries to Misamis Oriental. As most of us would recall, the $2 billion Hanjin shipyard project, which was scheduled for construction this year in Tagoloan and Villanueva, was indefinitely shelved when Korean investors withdrew from the province last April.

The shipyard would have been the 4^th largest in the world and would have provided an estimated 30,000-45,000 jobs. It would have contributed a projected P4.6 billion yearly in salaries and wages alone.

A number of reasons were cited for the project withdrawal. These included incomplete permits and resident relocation problems. Hanjin Director Myung Goo Kwan simply said that there were “numerous adversities.”

Six months after their much publicized exit, they are reportedly slated to come back. Some folks at Skyscrapercity have a thread specifically dedicated to the Misamis Oriental Hanjin project. A few official articles and some investigative work by thread posters have revealed that training for ship welders has been ongoing, that the 19.3 hectare relocation site is ready for occupation and that there is a possibility that Hanjin will be hiring workers in November.

So are the stories true? Are they coming back for good with more jobs to offer? Only time will tell for sure but I’d suggest that you keep your fingers crossed and your resumes ready.

Update (November 12, 2008): There are now a number of conflicting accounts as to the status of Hanjin’s Misamis Oriental investment. There are at least three versions of the story. One says that construction will resume in the first quarter of next year. Another one says that Hanjin will completely pull out. A third one says that Hanjin officials say that there is no confirmation yet as to whether Hanjin will resume operations in Misamis Oriental or not. For details check this thread in Skyscrapercity.