Hyundai Trucks & Buses Philippines joins SEIPI’s General Membership Meeting

Hyundai Asia Resources, Inc. (HARI) starts the year by supporting one of the country’s most active industry organizations – the Semiconductor and Electronics Industries Foundation, Inc. (SEIPI) in its 1^st Quarter General Membership Meeting and Partners of the Industry Award last January 27, 2022, via Zoom. 

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With the theme “Recharging the Industry and Economy through Transformational Leadership and Resilience”, more than 200 guests comprising of executives and industry practitioners from the semiconductor and electronics sector attended the virtual event. 

HARI’s support to SEIPI signifies its 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,” said HARI President and CEO Ma. Fe Perez-Agudo. “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.” 

Notable guest speakers during the virtual meeting include Vice President of the Philippines Maria Leonora “Leni” Gerona Robredo, Presidential Adviser for Entrepreneurship and Go Negosyo Founder Jose Ma. “Joey” Concepcion III, Anti-Red Tape Authority (ARTA) Director-General Atty. 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, Dr. Lachica conveyed, “The pandemic continues to rear its ugly head as COVID cases surge due to the Omicron variant. Despite this, our industry continues to remain optimistic as we welcome the new year 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 our country’s economy.” 

The country’s overall electronics export grew last year by a record-high of US$ 45.92 billion, 12.9% higher than US$ 40.67 billion in 2020, despite challenges posed by the pandemic, according to SEIPI’s industry report. Electronics account for 61.52% of the total Philippine exports in 2021.

Furthermore, Mr. Everett said SEIPI expects export revenue growth of 10% in electronics this year. “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. 

He also 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 remains to be a strong challenger in the country’s commercial vehicle industry since it began its CV operations in 2016. It captured 8.8% of the overall market share and achieved the highest overall growth at 206.9% last year, thanks to strong demand for its lineup of trucks and buses like the Hyundai MedTRX series, Hyundai COUNTY, Hyundai UNIVERSE, Hyundai XCIENT, and the Hyundai HD50S and HD48GT MODERN PUVs.

“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,” Ms. Agudo added.