Five months after they made an investment pledge to the City Government of Puerto Princesa during an investment forum, Samgyupsalamat, a Korean food establishment with over 100 branches nationwide, opens its first branch in Palawan on February 28, 2020 within the city’s Tourism Mile bringing the taste of Korea to the local food scene, offering unlimited Korean barbeque at an affordable price.
A fusion of Korean word for Pork Belly “Samgyupsal” and Tagalog word for Thank you “Salamat” has definitely pleased the Pinoy palate with its perfectly Korean taste. It is now the city’s newest Korean food establishment located in Clotilde Sepulveda Citramina Compound, Rizal Avenue Extension, Barangay Bancao-Bancao.
Samgyupsalamat is among the companies who made an investment pledge in the amount of P15-Million for the opening of their Korean barbeque restaurant. It was during an investment forum spearheaded by the city government and assisted by the United States Agency for International Development (USAID) on September 2019 held in Makati City, when Samgyupsalamat formalized its investment pledge. During the investment forum, it brought a total of P27-Billion worth of pledged investments from different companies and investors including SM Prime Holdings, Green Asia Unlimited Development Corporation, Adventist Hospital, VistaLand (Camella), Astoria-Palawan, Elizabeth Residences, Ace Medical Center, Dang Maria, among others, said the Local Economic and Investment Promotion Office (LEIPO) of the city government.
Arjie Lim, Samgyupsalamat franchisee and an active member of the Puerto Princesa City Chamber of Commerce and Industry (PPCCCI) said that with the establishment’s opening, it will be the first among the 12 companies to fulfill its investment pledge. It is located in Rizal Avenue Extension, within the city’s newly declared Tourism Mile.
He said that people in Puerto Princesa City and Palawan can expect “good food at a reasonable price” with the opening of Samgyupsalamat.
The Tourism Mile, where the newly opened Korean restaurant is located, was declared by the City Government through City Mayor Lucilo R. Bayron in an effort to help affected businesses disturbed by urban blight, and revive the lively economic activities in the area and making it as an important part of the city’s night-time economy.
In 2018, the Sangguniang Panlungsod passed the City Ordinance No. 919 that guarantees new business establishments of a five-year tax holiday and other incentives, which is expected to attract investors to locate in the Tourism Mile. LEIPO said that there are more 50 tourism establishments that already availed the tax exemption.