Korea COViD test kit makers urged to move to Phl

The Department of Trade and Industry (DTI) is encouraging Korean firms engaged in the manufacture of test kits for coronavirus disease 2019 or COVID-19 to invest and make the Philippines their production hub for domestic and overseas markets.

Trade Undersecretary Ceferino Rodolfo told reporters he is set to visit South Korea next month to discuss a bilateral free trade agreement (FTA) with counterparts as well as to meet with Korean firms including two test kit manufacturers.

He declined to name the Korean test kit manufacturers, but said the government is inviting the firms to set up facilities in the Philippines.

As many countries in the world are turning to South Korea to source test kits as the pandemic continues, he said the Philippines could serve as a hub for Korean manufacturers since the government did not impose a ban on exports.

Even as some parts of the country were placed under enhanced community quarantine or modified enhanced community quarantine, the government allowed exporters to continue their operations.

“So, we’re telling Korea we can serve as a good hub for manufacturing of COVIDrelated products,” Rodolfo said.

While the DTI is looking to get manufacturers of both the antibody rapid test kits and polymerase phain reaction (PCR)-based test kits to set up shop in the country, he said it may be easier to attract those producing rapid test kits as there are more requirements for PCR tests.

Rapid test kits which use blood samples, identify the presence of antibodies produced by the immune system.

Meanwhile, RT-PCR or the gold standard for COVID-19 diagnosis, makes use of nasal and throat swabs to determine the presence of the virus.

Both rapid test kits and PCR-based tests are being used in the country.

“I think we will get at the very least, one rapid test kit manufacturer,” Rodolfo said.

He said the investment for test kit manufacturing could be made within the year, but may or may not necessarily be from a Korean firm.

This, as there are also test kits manufacturers in Japan, China, Taiwan and the US.

While test kits made in South Korea are three times more expensive than those from China, Rodolfo said setting up manufacturing facilities in the country may help bring down the cost of the product.

As the Philippines is set to finalize the FTA with South Korea, he is hopeful the deal would help bring more Korean firms to invest in the country.

“It’s really a signaling mechanism we would like to improve business environment for Korean investors,” he said.