Korean company forges deal with Cebu-based shipbuilder

CEBU, Philippines —  Korean firm Jeju Sea World of Jeju Island entered into a shipbuilding deal with Cebu-based Seals Boatyard Incorporated.

Seals Boatyard, a local marine vessel building firm, is contracted to build five luxury yachts.

South Korea is emerging as a yacht charter hotspot as more tourists travel to South Korea. The demand for marina tourism is rising quickly not only in Jeju Island but throughout the nation as well, prompting the country to increase the number of marinas to meet the demand.

“With the growth of the maritime industry that looks promising made us feel excited about it to expand our operations and to have yachts built,” said Hong Chol, CEO of Jeju Sea World during the formal contract signing held July 27, 2022 in Cebu.

Hong Chol said Jeju Sea World saw an opportunity for a potential marine sector market after learning about the expanding tourism business, which motivated them to grow and construct boats.

Seals Boatyard Incorporated was discovered by Jeju Sea World while searching for a competent and experienced marine vessel constructor.

Initially, the shipbuilding company will construct a 14-meter international standard Catamaran yacht as the first luxury yacht in a series of five boats for Jeju Sea World.

Seals Boatyard whose shipyard is located in Luyang, Carmen, Cebu, has already built two Water-bus with a 60-person passenger ferry for Caticlan-Boracay Transport Multi-Purpose Cooperative (CBTMPC), and 10 more will be built this year to meet their fleet requirements.

 It has also finished and delivered the first Topline Seabus, a 150-passenger ferry that will transport commuters between Mactan Island and Cebu across the Mactan Channel. With three units scheduled for construction this year and an additional six units the following year.

Doyle Figueras, Seals Boatyard chief executive officer (CEO) explained that the project with Jeju Sea World is another affirmation of the Philippines’ strength in shipbuilding.

“We are very happy and excited about. this project with Jeju Sea World on building a 14-meter Catamaran Yacht for an international standard yacht. This is just the first of the 5-units catamaran yachts we have agreed upon. Moreover, we are thrilled to represent the Philippines in the international maritime industry as a reliable marine vessel builder and we would be proud to say that it will be Filipino made with international standards quality vessel,” Figueras said.

Figueras added that the opportunity is not just for the company’s benefit but also for the Filipino people, particularly the people of Cebu, generating employment and career opportunities in the maritime boat building sector through their series of scheduled marine vessel construction.

Under the management of the Seals Group of Companies, the Seals Boatyard Incorporated is a marine vessel manufacturer with Class C MARINA accreditation in the Philippines. It is also a regional boat builder that can design and construct your ideal marine craft while utilizing state-of-the-art technology. It also strives to be the top and most sought-after marine vessel builder in the Philippines by offering the locals and the global market quality global standard products with exceptional services. — Shaina Fame Marie P. Mabatid, UV Intern