Hanjin shipyard bankruptcy poses dilemma for Duterte

Chinese interest in strategically located Subic Bay site sets off alarm bells in Philippines

20190129  Hanjin 2nd

Hanjin shipyard workers, joined by their families and supporters, protest in front of the Philippine labor department headquarters in Manila on Jan. 28. The workers want government support as another 3,000 layoffs loom. (Photo by Cliff Venzon)

CLIFF VENZON, Nikkei staff writer

CASTILLEJOS, Philippines -- In the good times, when the giant Hanjin shipyard in Subic Bay was humming with orders, workers would gather in the nearby Hanjin village housing project to sing and drink into the night.

The celebrations took place twice a month on pay day, the fifth and the 20th. But this month, says Arnel Casta, a shipyard worker laid off in what is believed to be the Philippines biggest ever corporate default, "it has been quiet."

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.