Industrialized Philippines, an impossible dream? Thus the conglomerate that he founded put up a petrochemical business, JG Summit Petrochemical Corp., which traces its roots in the early 1990s. And Gokongwei, despite his patriotic intentions, would learn this the hard way – after investing billions in the petrochemical business. I’m assuming only foreign players would have the capacity to acquire the assets of JG’s petrochemical business. It was in 1994 when JG Summit established JG Summit Petrochemical, initially as a joint venture between JG Summit and Marubeni Corp. of Japan.

Source: Philippine Star January 14, 2026 17:31 UTC