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Waterfront chair passes away

RENATO B. Magadia, chairman of listed firms Waterfront Philippines, Inc., Metro Alliance Holdings & Equities Corp. (MAHEC), Acesite (Phils.) Hotel Corp. and director of Philippine Estates Corp., had passed away at the age of 82.

The companies announced his death in separate disclosures to the stock exchange on Monday. No new appointments have been made to replace him in his vacated positions.

Waterfront Philippines Independent Director Sergio R. Ortiz-Luis, Jr. told BusinessWorld Mr. Magadia has been “in and out of the hospital for a month” until his passing.

Mr. Magadia held positions in various companies until his death. In the Gatchalian-led Waterfront Philippines, Mr. Magadia has been a member of the board of directors since April 1999.

In MAHEC, Mr. Magadia was chairman of the board since 1999 and served as its president starting 2001.

He was elected vice-chairman of Acesite Phils. in June 2004 and led the risk management committee of the company as its chairman.

Aside from positions in listed firms, Mr. Magadia was also chairman of ZetaMark, Inc. and Mabuhay Vinyl Corp. In his earlier years, he led pharmaceutical firm Zuellig Corp. and held board memberships in various gaming, lodging and restaurant companies.

Mr. Magadia is a certified public accountant who earned his degree in Business Administration major in Accounting from the University of the Philippines Diliman. — Denise A. Valdez

How big data may help solve Metro Manila’s traffic problem

WITH mounting woes from commuters every single day, the government is now up and about in finding ways to solve traffic in Metro Manila. World-renowned architect Jason Pomeroy suggests one solution for this — big data analytics.

Mr. Pomeroy in an email interview said that setting up a digital command center can improve the efficiency and productivity of cities, especially in terms of easing traffic congestion and facilitating information flow on natural disasters.

He cited the case of the Indonesian city of Bandung where pollution, traffic congestion, and overcrowding are similar to what is happening in the Philippine capital.

“The city officials in Bandung provided a ‘digital conduit’ to the social media exchanges amongst the city’s population into one central command center. The filtered information allowed the municipality to identify and announce the occurrence of floods, pollution, traffic jams or other city related woes, and deploy resources efficiently to deal with such issues,” Mr. Pomeroy explained.

This way, citizens will also feel more engaged in finding solutions to free up the city’s roads.

In addition to a command center, Metro Manila could benefit from giving back the streets to the people, just like what city officials in Barcelona did.

“City officials in Barcelona reclaimed the streets for its people by creating ‘Superblocks’ that were pedestrianised and thus free from the congestion and pollution of cars. Such spaces were turned over to residents to create mixed-used public places for social interaction,” Mr. Pomeroy said.

The architect, who is known to promote sustainability features in his designs, also said the metro can do well to create more communities near the harbor of Manila Bay through what he calls a “Pod Off Grid.” This is a low-energy waterborne community prototype that looks to provide an alternative to the widespread urbanization of major cities around the world.

“If we can facilitate the creation of communities near the harbor of Manila Bay, we will be reducing the pressure on the land in the city area to a huge extent. If we transfer some communities to living on the water and create floating communities, we will be reducing congestion on the land and ease off the pressure in a myriad of ways,” Mr. Pomeroy said.

For these changes to happen, Mr. Pomeroy said that civil society, the academe, government, and the private business sector should work together as soon as possible.

“Academia needs to come together to test those ideas and thoughts through an evidence-based approach to justify ‘the proof of concept.’ Corporations can build upon such research — born out of the people’s needs, and then seek to implement through a government ratified process.” — Arra B. Francia

Japan banks to undergo stress test to prepare for crisis

TOKYO — Japan’s major financial institutions are set to undergo a stress test to prepare for any major shakeout in financial markets in light of worries about a global recession and a protracted Sino-US trade war, sources with direct knowledge of the matter told Reuters on Monday.

The stress test will be overseen by the Bank of Japan and the Financial Services Agency (FSA), which will assess the results to see how capital and liquidity on-hand would be affected at Japanese financial firms if stocks took a tumble and the yen spiked, the sources said.

It wasn’t clear when the test will be conducted, they said, but noted it marked the first time the BoJ and FSA were closely coordinating to manage the process.

Previously, each financial institution has drawn up their own scenarios when conducting stress tests, the results of which were examined by the FSA.

Seven Japanese institutions will be subject to the stress test, including the three mega banks designated as G-SIBs, or global systemically important banks, and four other domestic systemically important banks dubbed D-SIBs.

None of these institutions will likely be required to beef up their capital, but they may be urged to improve any shortcomings as a result of the stress test, the sources said.

The FSA and the BoJ have stepped up coordination lately. Last month, the two embarked on joint investigation into surging investments in collateralized loan obligation. — Reuters

PHL, Malaysia ban Abominable

FOLLOWING VIETNAM’s lead in banning DreamWork’s animated feature Abominable over a scene showing China’s controversial “nine-dash line map,” the Philippines and Malaysia have also banned the film from showing in their cinemas.

In a statement sent to Pilipino Star Ngayon by the Movie and Television Review and Classification Board (MTRCB) on Oct. 17, the board said the film had been pulled out of Philippine theaters on Oct. 15.

“MTRCB understands the situation brought about by the movie Abominable. We wish to assure the public that the said movie is already off the Philippine market effective October 15, 2019,” MTRCB Chairman Rachel Arenas said in the statement.

The movie, about a young girl befriending a yeti, has a scene which briefly shows a map of China’s “nine-dash line” — China claim around 80% of the resource-rich South China Sea, an area which is also claimed by several countries in Southeast Asia including Malaysia, Vietnam, the Philippines, and Brunei. The map was legally invalidated by the Permanent Court of Arbitration at the Hague, the Netherlands in 2016 in a landmark case brought to court by the Philippines.

The film was jointly produced by DreamWorks Animation and Shanghai-based Pearl Studio.

Last week, Vietnam took the lead in banning the film after a public outcry led to Vietnam’s largest theater chain apologizing for showing the film, according to The New York Times, and for the government to review and eventually pull it out.

Universal Studios, the film’s distributor, also abandoned plans to release the film in Malaysia after its censors demanded cuts to remove the offensive map.

“Universal has decided not to make the censor cut required by the Malaysian censor board and as such will not be able to release the film in Malaysia,” a spokeswoman for the film’s distributor, United International Pictures, said as quoted by The South China Morning Post on Oct. 20.

The film was supposed to be screened in Malaysia on Nov. 7. — ZBC

SB Corp releases P40M in loans to Marawi residents

SMALL BUSINESS Corp. (SB Corp), the financing arm of the Department of Trade and Industry (DTI), has released almost P40 million in loans to Marawi City’s internally displaced persons and uniformed personnel to help the city rebuild after the five-month siege in 2017.

“In line with President Rodrigo Duterte’s promise to continue the programs helping our kababayan in Marawi, especially those who have been affected by the siege, DTI will ensure that entrepreneurs will be back on their feet,” DTI Secretary Ramon M. Lopez said.

“Our goal is to bring back the vibrant business of the city, as well as provide jobs and livelihood to Maranaos.”

SB Corp has provided P7.595 million in loans to 457 Marawi entrepreneurs under the Pondo sa Pagbabago at Pag-asenso or P3 program. Each beneficiary availed of loans between P10,000 to P20,000.

Launched in 2017, P3 is a financing program for small businesses intended as an alternative to predatory “5–6” lending schemes.

SB Corp also extended loans to wounded soldiers and the families of those killed in action in the Marawi siege under the Wounded-And-Killed in Action (WIA-KIA), an offshoot program of P3.

As of Oct. 18, P30.92 million has been released to 402 uniformed personnel, with loans ranging between P40,000 to P100,000.

The agency earmarked P50 million in lending for the P3-Marawi program, which includes WIA-KIA.

The loan assistance for Marawi follows Administrative Order No. 03, which mandates the creation of an inter-agency Task Force Bangon Marawi for the recovery, reconstruction, and rehabilitation of Marawi City, including providing livelihood to internally displaced persons in the area.

The DTI leads the business and livelihood subcommittee of Task Force Bangon Marawi, to fast-track the recovery of businesses in the city. — J.P. Ibañez

Federal Land, Orix unveil Ortigas project

FEDERAL Land, Inc. and Japan’s Orix Corp. recently launched a new residential project in Ortigas Center, Pasig City.

The Grand Midori Ortigas, located along Exchange Road, is a high-rise development offering prime units imbued with elegant and functional Japanese design and aesthetics. World-renowned Tokyo-based Japanese architectural firm, Tange Associates, designed the two-tower development.

“With the country’s consistent economic growth as we work towards improving our infrastructure, more investors are keen on establishing a presence in Philippine real estate. We are privileged to have partnered with Tange Associates to once again marry Filipino ingenuity and Japanese discipline,” Tom Mirasol, General Manager of Federal Land, Inc., was quoted as saying.

The first Grand Midori development was built in Makati City in 2011. The 35-storey twin tower project received the Gold Award for Outstanding Developer in the Residential High Rise category during the 2017 FIABCI-Philippines International Real Estate Federation’s Property and Real Estate Awards.

“Similar to its Makati development, The Grand Midori Ortigas evokes a grand yet refined design. Tange Associates’ affinity towards innovative yet functional designs is shown by the weave patterns that adorn the facade of the development. The overall feeling the Grand Midori brand brings a clean and fuss-free lifestyle that truly captures the essence of Japanese living that many aspire for,” the company said.

China unexpectedly keeps LPR lending benchmark unchanged

CHINA unexpectedly kept its new benchmark lending rate unchanged on Monday, but analysts expect further downward adjustments in the coming months. — REUTERS

SHANGHAI — China on Monday unexpectedly kept unchanged its new benchmark lending rate, suggesting Beijing is keen to avoid overly loosening monetary policy for fear it may push up already-high debt levels across the economy.

The one-year Loan Prime Rate (LPR) remained at 4.20%, steady from the previous monthly fixing. The five-year LPR was fixed at 4.85%, unchanged from September.

A Reuters poll last week had forecast the rate would be cut again following reductions in August and last month.

Frances Cheung, head of Asia macro strategy at Westpac in Singapore, said Monday’s decision does not point to an end to the downward adjustment in the LPR.

“That said, the outcome is likely to reinforce the somewhat risk-on sentiment today,” Ms. Cheung said.

“Looking ahead, we still see each monthly LPR re-set as providing an opportunity for a baby-step reduction.”

Investors in China’s financial markets took the rate decision in stride. Benchmark 10-year treasury futures for December delivery, the most-traded contract, were barely moved after the data release.

A separate Reuters poll of 83 analysts showed that the central bank is expected to slash the one-year LPR to 4.00% by the end of 2019, down by 20 basis point from its current level.

The decision to keep the LPR steady came just days after China reported its third-quarter gross domestic product (GDP) growth cooling to near 30-year low.

Economists and China observers say a recent bath of weak data showing a further loss of momentum in the world’s second-biggest economy underlined the need for further monetary policy support.

A bruising 15-month long Sino-US trade dispute was also one of the key factors fueling the easing expectations. US President Donald Trump has outlined the first phase of a deal to end a trade war and suspended a threatened tariff hike, though officials on both sides said much more work needed to be done.

All the same, some policy insiders have said the room for the government to step up stimulus measures could be limited by its worries about rising debt risks and possible property bubbles.

Data earlier on Monday showed new home prices in China grew at a steady pace in September, with fewer cities reporting price gains, giving the authorities some breathing room as they refrain from over-stimulating the property sector.

Beijing has leaned more heavily on fiscal stimulus to address the current downturn, announcing trillions of yuan in tax cuts and special local government bonds to finance infrastructure projects.

Monday’s fixing was the third since the People’s Bank of China (PBoC) unveiled the new lending benchmark, which is set by 18 banks.

The new LPR is linked to the rate on PBoC’s medium-term lending facility (MLF), which is determined by broader financial system demand for central bank liquidity. The one-year MLF rate, last cut in February 2016, now stands at 3.3%.

The PBoC unexpectedly injected 200 billion yuan ($28.29 billion) through MLF loans last week while keeping the lending rates unchanged. — Reuters

Cleaners: Growing pains

By Carmen Aquino Sarmiento

Movie Review
Cleaners
Written and Directed by Glenn Barit

THIS THROWBACK to the pre-touch screen smart phone era, when owning a Blackberry was the ultimate in status symbol gadgetry, evokes the remembrance of things past with relentlessly flickering stop-motion animation throughout its 90 minutes or so running time. The novelty of re-shooting all the grungy photocopied frames wherein the major characters (all unknowns) have been laboriously color-coded in fluorescent marker, gives it the distinction of having what may be the largest carbon footprint, minute-for-minute, since filmmaking went digital. Cleaners should come with a warning that prolonged viewing may induce migraines or even grand mal seizures in those so predisposed.

Structured as an anthology set around highlights of the school calendar, the film is purportedly set in a private co-educational Catholic school in Tuguegarao. It is a fantasy institution, given the absence, indifference, or ineffectuality of teachers and other authority figures, and the lack of realistic consequences for students’ actions.

“Nutrition Month” is a tale of moral come-uppance for the unsympathetically portrayed Stephanie (green), who is unmistakably branded maarte (affected) as she repeatedly expresses disgust over having to sully her hands in the school’s vegetable garden. In case we don’t get that she is a germophobe, she is also repeatedly shown dousing herself with rubbing alcohol, even while fully clothed in the privacy of her bathroom. While performing with her high school dance club for the entire student assembly, she has explosive diarrhea onstage. Instead of running to the bathroom as a sane and civilized person would, she scoots across the floorboards like a sick puppy, the better to spread her fluid bacteria-laden excrement for her oblivious, barefoot fellow dancers to step in. The show must go on.

Then, still eschewing the use of her school’s sanitary facilities, Stephanie races to her class’s vegetable garden, to finish doing No. 2 in a conveniently prepared hole in the ground. She leaves her soiled panty hanging inside out on a papaya plant, like a flag, for further scatological emphasis. It is toilet humor taken to new depths. Her dirty panty remains hanging there until harvest time when succulent papayas, fertilized through her personal efforts, appear. Is the message this sends to the throngs of high school students being taken by their clueless teachers to watch this film: eat s—?

Next is “Buwan ng Wika” where the goody-two-shoes Angeli (yellow) must team up with a very mature-looking Goth triumvirate (orange) for their presentation. The reliance on visual anachronisms such as CDs, or the absurdity of Angeli rehearsing tinikling by herself are a banally soporific stretch. Sketch comedy should be under five minutes. But then, Filipino audiences are suckers for the Tito-Vic-en-Joey schtick and in a collective autonomic reflex, will laugh mindlessly. One wonders how this peculiarly Pinoy humor might translate on international film festival screens.

“Prom” deals with the ostensibly serious issues of teen pregnancy, slut-shaming, and bullying. Francis (aqua) is singled out for being supot (uncircumcised) by a pack of high school alpha males who are inordinately interested in his penis. Helpless before their sheer numbers and superior strength, and unable or unwilling to seek professional help and support, he resorts to performing a DIY pagtutuli (circumcision) with scissors before his tormentors in the school corridor. His member must have been engorged with excitement or arousal, as evidenced by the blood which photogenically sprays the leader’s face. Such crude self-mutilation is supposed to be an admirable act of bravado which the audience dutifully applauds. Francis is presented as a role-model in these times of rising rates of teenage depression/suicide and the popularity of cutting as an expression of adolescent angst.

“SK” examines Philippine social and political structures through the wide eyes of Jun-Jun (purple), the heir to a local political dynasty. His best friend Ramon is a bad influence, an incorrigible juvenile delinquent who spray paints penises in an homage to Netflix’s American Vandal. It turns out that Ramon’s family has been using, rent-free, land owned by Jun-Jun’s family for their pancit batil patong (a Cagayan delicacy) eatery. Nonetheless, Jun-Jun always offers to pay whenever he eats there.

Despite his friend’s obvious decency and the debt which they owe to his family, Ramon continually derides Jun-Jun as a “weak shit” for his reluctance to take part in his nightly spray-painting forays. The one time Jun-Jun gives in, they get caught by the police and, as expected, Jun-Jun’s father who used to be the mayor (a seat his wife is now keeping warm) gets him out of trouble. The daddy mayor is such a loving father that he doesn’t even scold Jun-Jun and assures him he understands that it was all misguided youthful high spirits. Later though, Jun-Jun’s father mentions that he needs the property which Ramon’s family has been using for free for their food business all these years. All good things must come to an end after all.

Jun-Jun repays his parents’ nurturing and his best friend’s insults, ingratitude, and vindictiveness (Ramon has defaced all of the posters of Jun-Jun’s family) by taking the money that his parents gave him for his SK campaign and handing it over to Ramon’s parasitic family. That’s where his loyalty lies. His questionable action is held up as admirable: be the viper in your own family’s nest; bite the hand that feeds you; s— where you eat. Like most of the characters in Cleaners, Jun-Jun clearly needs professional help.

The film’s climax, “Huling Araw,” confirms the poor mental health of the main characters. On the last day of school, they spontaneously screech profanities, ululate, hurl themselves against the walls, roll on the floor, shatter the classroom furniture. No one gets naked though so it all stays PG. Again, no responsible adult intervenes. There are no grown-up’s in the room. It is a teenage sociopath’s fantasy come true.

UBS plans to cut about 40 banking jobs in Asia

UBS GROUP AG is planning to cut about 40 jobs in its market and investment banking teams in Asia-Pacific. — REUTERS

UBS GROUP AG is cutting about 40 jobs in the Asia-Pacific region as part of a global push to trim costs and combine its trading units, according to a person familiar with the matter.

The staff reductions are roughly split between UBS’ markets and investment-banking teams, with a majority at the level of vice-president or below, the person said, asking not to be identified because the details aren’t public. The Asian divisions — led by Hong Kong-based Taichi Takahashi and David Chin — will see smaller cuts than those planned in Europe because UBS sees the region as a driver for growth, the person said.

UBS has embarked on a sweeping overhaul of its investment bank, reshuffling senior management and combining trading operations in changes that may ultimately eliminate hundreds of positions, people with knowledge of the plan have said. Citigroup, Inc., Deutsche Bank AG and HSBC Holdings Plc also are cutting staff to rein in costs as the industry deals with difficult trading conditions, sputtering economies and the impact of trade tensions on cross-border deals.

Mark Panday, a Hong Kong-based spokesman at UBS, declined to comment.

UBS is set to announce its third-quarter results today. While the company’s investment-banking fees fell in both Europe and the US in 2018, they grew 28% in Asia, according to Freeman & Co. The fees totaled $388 million this year through the third quarter in Asia, ranking the region ahead of Europe and behind the US, the consulting firm said.

As part of its global restructuring, Ros L’Esperance and Javier Oficialdegui are being put in charge of the newly named global banking division, which will include public capital markets, private financing and mergers and acquisitions. A combined global markets operation, including equities and foreign exchange, rates and credit, will be run by Jason Barron and George Athanasopoulos.

Greg Peirce is taking over as global head of mergers and acquisitions, the first time that role will be based in Hong Kong, the person said. The Asian staff reductions have already begun, with a fresh round expected later this month, they said.

The restructuring comes as UBS seeks to boost collaboration between dealmakers and its wealth-management unit, while sharpening a focus on industries most of interest to its richest clients. The investment bank’s 10% return on equity in the first half of the year was roughly half that of UBS’s other divisions. — Bloomberg

CHMI Land to open new Acacia Hotel in Davao by December

DAVAO CITY — CHMI Land, Inc., the real estate arm of Corporate Holdings Management Inc., is opening its Acacia Hotel Davao by December, the third in its chain after Alabang and Bacolod.

The 260-room Acacia Hotel Davao — renovated from a facility built about five years ago and bought in 2017 by Cosco Capital, Inc.’s Lucio L. Co — is located in the city’s business center and is about 20 minutes away from the Davao International Airport.

“Acacia Hotel Davao is ideally situated in the midst of Davao City’s hustle and bustle, the center of the city’s business hub which is recognized as a booming location for both local and international tourism,” the hotel management said in a statement on Oct. 9.

The hotel’s amenities include the Club Lounge for guests staying in the premier rooms and suites, a cafe and Chinese restaurant, gym and swimming pool with a bar, a ballroom for up to 350 persons, and nine smaller event venues.

Davao City Tourism Office head Regina Rosa D. Tecson told BusinessWorld that the opening of new hotels such as Acacia are an added “promotional material” for attracting more leisure and business visitors.

“New facilities are most welcome because they become part of our marketing strategy,” said Ms. Tecson.

The tourism office is projecting three million visitors this year and local industry players are working together to push the city as a major meetings, incentives, conferences, and exhibitions (MICE) destination. — with a report from Carmelito Q. Francisco

Top central banker says yuan level ‘appropriate’

WASHINGTON — China’s top central banker said on Saturday that potential escalation of trade tensions and policy uncertainty were the major risk factors facing the world economy, and market forces were keeping China’s yuan at an appropriate level.

Yi Gang, the governor of the People’s Bank of China, said in a statement to the International Monetary Fund’s (IMF)steering committee that Beijing is “deeply disappointed” in the IMF’s failure to realign its shareholding structure to recognize the rising influence of China and other fast-growing economies.

Mr. Yi pushed back against the US Treasury’s Aug. 5 designation of China as a currency manipulator after China’s yuan fell below the psychologically important level of 7 to the dollar.

His statement said that the depreciation in the yuan since the beginning of August has been driven by market forces, including volatility prompted by escalating trade tensions. Mr. Yi added that there was “growing market acceptance for two-way exchange rate fluctuations” in the yuan, also known as the renminbi or RMB.

“Judging both from economic fundamentals and from market supply and demand, the RMB exchange rate is at an appropriate level,” Mr. Yi said.

In a dig at the Trump administration’s “America First” trade stance, Mr. Yi said: “the wave of populism and protectionism in some countries has undermined mutual trust, reducing their willingness to cooperate on a multilateral basis.”

Yi’s statement did not mention the “Phase 1” trade deal that US President Donald Trump announced on Oct. 11, but warned of the problems that trade tensions have caused for the global economy.

“Signs of disruptions have emerged in global trade and in global industry chains, supply chains, and value chains,” he said. “Trade tensions have dampened market confidence, which may amplify financial market volatility and drag down economic growth.”

On IMF quotas, Mr. Yi said that IMF members needed to honor previous commitments to adjust the IMF’s shareholding to reflect the growing power of dynamic emerging market economies and said that China supported an adequately resourced IMF based on quota resources, not temporary lending arrangements.

The IMF on Friday announced that members had agreed to keep IMF lending resources at $1 trillion, through extension and a doubling of its crisis lending fund and a corresponding reduction in bilateral borrowing arrangements. But in a move that preserves US veto power over major Fund decisions for four more years, IMF members delayed the next quota review until December 2023.

“The failure to adjust quota shares undermines the representation, governance, and legitimacy of the IMF,” Mr. Yi said. “China will, along with the other parties, continue to push for reforms of the IMF’s quotas that will strengthen the voice and representation of emerging market economies.” — Reuters

Heartwarming Hae In

By Cecille Santillan-Visto

Fan meeting
One Summer Night
(Fan Meeting Tour 2019)
Sept. 28, New Frontier Theater, QC

WHEN A Korean celebrity returns to Manila just a few months after his last show, then it is safe to assume that he has cemented his status as a local crowd-drawer.

Among the Hallyu stars who have had fan meetings in the Philippines in recent years, only superstar Lee Min Ho had yearly sellout events in the country. Actor Jung Hae In can now boast of being in the same league as Bench endorser.

The 31-year-old held his second fan meeting here in as many years, solidifying his standing as among the favorite actors of Filipino K-drama enthusiasts. His first encounter with fans, at the then Kia Theater, was in June 2018 through his Smile Fan Meeting In Manila. There was a consistent clamor for a second serving, prompting Wilbros Live! to bring him back.

“I am so happy to be back in Manila after last year’s visit and thankful for the opportunity to sit down for an interview,” he said during a press conference for his One Summer Night fan meeting at the Marco Polo Hotel. He added that it is always a treat to perform for the Filipino audience considering their warmth, “amidst their shyness.”

During the press conference, Mr. Jung talked of one unforgettable fan meeting where he sang a song but he was out of tune. In another instance, the audience requested a dance number. While he gave it his best shot, reviews had it that it was not his best performance.

For One Summer Night in Manila, he sang at least two songs — both of which were decent and demonstrated his, in his words, “slightly upgraded singing skills” — but he did not attempt to put on his dancing shoes. He admitted he is a fan of K-pop group, Bangtan Boys (BTS).

There was more fan interaction, which his loyal followers appreciated, as it allowed fans to know the actor beyond what they see in Korean dramas, shows, and interviews.

In one of the highlights of his fan encounter, he donned a white doctor’s gown and provided advice to three selected fans.

One confessed that she has broken up with her boyfriend, who did not take well to her extreme fangirling, particularly those involving him. He shared some encouraging words and told his fan to “love yourself” first and foremost.

He also jokingly told a Malaysian follower to train her sights at his numerous male fans.

He then proceeded to prescribe some “remedy,” including a photo of himself and a portable magnifying glass to enable her to see him closely. Another young fan was gifted with a journal to allow her to better analyze and decide what she wants for her future.

During the fan meeting, Mr. Jung — who is best known for his smile and his effective portrayal of roles — also told some behind-the-scenes stories on projects he has been working on.

Mr. Jung had a career-changing experience when he took on the part of the first love of actress Kim Go Eun’s character in Goblin, a blockbuster drama starring Gong Yoo and Lee Dong Wook.

“I was a fan and a viewer of the drama so when I was tapped to take a role, it was surreal. I was able to see Gong Yoo up close,” he shared, noting that he does not really consider himself a Hallyu star but is grateful to be able to do what he loves. He declined to be compared with any of the other popular K-drama actors.

Since Goblin, the actor went on to star in other TV series such as One Spring Night and Something in the Rain.

“One Spring Night was my last project and my role as a father was very interesting but new to me. The difference in my character in Something in the Rain is that he was aggressive and strong… But among the roles that I have played so far, my most memorable is that of Yoo Jiho (in One Spring Night) but Seo Joon Hee (in Something in the Rain) is my favorite.”

He said he looks forward to playing more diverse roles, including that of a CEO in a large Korean company.

“Acting is something I do because it makes me happy. I am glad that there are people all over the world who watch my dramas and movies. I am excited to work on more shows and movies to entertain my fans,” he noted.

In his last two visits to Manila, his schedule was very tight and he has not been able to visit popular destinations — he has been eyeing Cebu and Boracay. However, this gives him a reason to schedule a third trip to the Philippines.

Given the response to his last two fan meetings, it is not unlikely that he will soon return to the local stage.

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