Despite a location ideally suited to attracting investment from China, Taiwan, and Japan, a labor force that is relatively educated, english speaking with millions of successful overseas workers, the Philippines has failed to attract manufacturing investment. This is because no administration has managed to reform a shambolic, corrupt and chaotic regulatory and bureacratic business environment. Costs are artificially high due to oligopolies in telecommunications and electrical power costs are high. Importing parts and raw materials needed to manufacture competitively is difficult. Compared to Vietnam, manufacturing in the Philippines is a nightmare.

@macolet9711

2 жыл бұрын

Philippines is having a hard time to compete in Manufacturing due to high electricity and logistic cost. Being an archipelago and isolated from the mainland Asia. Logistic cost to move raw materials and finished products is costlier. Thailand and Vietnam have the advantage because they are more accessible to China and the rest of Mainland Asia.

@omniyambot9876

2 жыл бұрын

@@macolet9711 I wonder why I never thought of these.. how about japan? Also an island. But of course, culturally, historically they have an advantage.

@macolet9711

2 жыл бұрын

@@omniyambot9876 Japan is one of the pioneers in Industrial Revolution. They used to have cheap labor and electricty before they become a developed Country. But, they no longer competitive as they used to, without Govt subsidy and assistance. Their main advantage together with Korea, Taiwan are their homegrown global companies which Vietnam, Thailand, Malaysia and Indonesia dont have. There will come a time that these countries will lose their competiveness too once labor cost will start to rise.

@omniyambot9876

2 жыл бұрын

@@macolet9711 what countries? The SEA countries you mentioned? Also, is the Japan, Korea, Taiwan economy at its peak? Also, what makes Indonesia such a giant compared to Philippines? They are quite similar. Because has parts closer to the mainland? Connected to Malaysia? It's okay if you don't want to answer.

@onemigreyes8950

2 жыл бұрын

I was wondering why the Philippines is the 3rd in Asean even with it's "protectionist" stance? Now that the Duterte government has released the "spirits from Pandora's box" ( Foreign ownership and further ownership liberalization through the "FOCI CLAUSE" filter and digitized automated governance leading to smooth ease of doing business).I wonder what's stopping the investors if as we speak right now the infrastructures are already in the works. What's stopping them right now from leaving Vietnam and Thailand like when they left India for the Philippine's BPO? What will stop them?

You're a diamond in the rough Asianomettry. I shouldn't enjoy such dry topics and presentations but you make it work, I love these essays.

@kingphiltheill

2 жыл бұрын

Couldn't have said it better

@stellviahohenheim

2 жыл бұрын

His presentation is simple and straight to the point, also i love how he didn't feel the need to add background music as i always find it distracting

@antman7673

2 жыл бұрын

I would call it nutritious. Well structured information. Lectures on math are „dry“.

@jansix4287

2 жыл бұрын

What’s dry about the economic foundation of nations? 🇩🇪🤷

@legendjoker1317

2 жыл бұрын

@@kingphiltheill 07777

What an interesting contrast to POSCO, South Korea's attempt at building up an indigenous steel industry. It was initially predicted to be an expensive failure but ended up producing steel at competitive prices and ended up supplying Korean industrial sectors such as automobiles and construction.

@almond5560

2 жыл бұрын

@Zaydan Naufal only one didn't start as a state enterprise.

@babagandu

2 жыл бұрын

@Zaydan Naufal yaaaa khuuuuuudaaaaa

@ruominzhang6085

2 жыл бұрын

@Zaydan Naufal Cosco is a Chinese shipping company, Costco is a store

@WeatherManToBe

2 жыл бұрын

We even use Korean steel in Canada!

@babagandu

2 жыл бұрын

@@WeatherManToBe we use Chinese noodles in India

Moral of the story: if you're a government running a successful industrial business and your employees are happy and turnover rates are low, don't sell the company to greedy private investors! "If you want a job done right, do it yourself!"

@darrellng7617

2 жыл бұрын

nah, you're talkin about filipinos here.. they all want the glory but none of the responsibility

@eljayalcantara3633

2 жыл бұрын

Fidel was a soldier doesn't know how to run a business even a government

@dominoslays4286

Жыл бұрын

@@darrellng7617 And are you Filipino yourself? Or are you some glorified foreigner thinking the world owes you a favor?

@sylviam6535

Жыл бұрын

Anything that is government owned is usually run terribly and subject to corruption.

@mefavevo

Жыл бұрын

oh hey i see this factory almost everyday, didnt know it had this kind of backstory

My dad was one of those employees who lost their jobs due to the closure of NSC. As an accountant to the company he said during the time of fvr, the company was mismanaged and that there were too much higher level workers(manager supervisors and etc) than of the lower level ones.

@lizbeth2764

2 жыл бұрын

perting looya sa taga iligan pagbaligya aning tabako ba

@baepedro

2 жыл бұрын

Surely much of those supervisors are just ghost employees and some of politicians is milking it

@erwinrowelboiser9563

2 жыл бұрын

MY AUNT AND UNCLES LOSES THEIR JOBS DUE TO THE SELLING OF THIS FACTORY OF WHICH 15.K WORKERS ENDED FOOLISH LEADERS LIKE CORIKONG AND BOY BENTA RAMOS NGA KURAKOTS.

@alken4668

2 жыл бұрын

Nagabaan ang NSC.. daghan mga kabit, pamilya na bungkag.... Murag silot dyud sa iligan mga worker sa NSC.. usahay hambugero ning uban ha.. .. hai.. lahi ang balos sa Ginoo.. damay tanan..

@lizbeth2764

2 жыл бұрын

@@alken4668 korek pod ka, daghannnn kabit g hambugero mga workers, nadamay tawn ang tarong, from industrial city of the south nahimong city of water falls pero permi way agas pa jud

One notable Philippine steel company that's been investing in expanding their capacity in recent years has been Steel Asia, which has invested several billion dollars in integrated steel mills over the past few years. They've offered to revive the Iligan steel plant.

@babagandu

2 жыл бұрын

I love Filipinas

@bigmedge

2 жыл бұрын

Do you know if they’re in the process of buying it , or what the status is ?

@simonjames9481

2 жыл бұрын

Yes. Philippines steel company is expanding very fast. I hope the government supports them by limiting or banning the importation of steel.

@SMGJohn

2 жыл бұрын

@@simonjames9481 Why should the government limit the market forces? Let Free Market plunder your country, only the strong survive, and you are not strong enough if you need big daddy gubernment to save you, in fact just abolish your gubernment, let the Corporations run your country.

@bigidlagger7589

2 жыл бұрын

@@SMGJohn TF!?

This hurt to watch as a Filipino. Sucks, and I do hope we can finally revive our industries here with competent leadership…someday.

@troy4298

2 жыл бұрын

competent leadership? Ha in a million years i guess

@aiman9088

2 жыл бұрын

with Marcos Jr being the president. That's gonna be a awhile T_T

@envynitar

2 жыл бұрын

Hahahahahahahahahahahahaha

@AkoyTamad

2 жыл бұрын

@@aiman9088 He will be focusing on the same tired populist agenda that does not do anything to build the Philippines economy.

@spongeotakuph

2 жыл бұрын

@@aiman9088 just be thankful that the original Marcos and his rival Cory (despite mothballing Bataan Power Plant) supported NSC. Marcos' second cousin Ramos ruined our NSC, resulting to a domino effect that critically injured our manufacturing industry.

I live in Iligan City, and I'd say, there's a huge steel masterpiece at their admin building, it's beautifully made, like a huge canvas of steel art, welded by highly skilled welders. Also, NSC was so popular back then, and the employers there were so rich they can even pawn their uniform. Even when I go to Cebu and ride a cab, when the drivers were informed that I live here, they'd immediately ask me about NSC.. I also had a chance to get inside the property, which is really strict before pandemic, and it's amazing, there are also a lot of preserved things there that were displayed like the first computer invented, the uniform, the helmet, etc., everything you'll see at NSC back then. It's not that easy to get inside though, so I was quite lucky to get the chance. Interestingly, there's a black horse roaming freely around it. :D

@samsilverman824

2 жыл бұрын

K. Choo....how tall R U?

@g7enn89

2 жыл бұрын

They also have that giant robot before, about 30 - 50 ft. tall, like a Gundam. When I was a kid, I always make sure to see it every time we pass by NSC. lol

@erwinrowelboiser9563

2 жыл бұрын

The NSC WAS SOLD THE MALAYSIAN, WINTEK AND LATER ON BY SISTER COMPANY. GOTEK AND THE LAST ONE WHO BOUGHT IT WAS FROM CHINA THE MACHINERIES WERE PIECE BY PIECE BROUGHT TO CHINA. ALREADY.

@Walker983

2 жыл бұрын

You are giving a Poetic perspective of an Industrial plant . . . I love it !

@imyourfather6828

Жыл бұрын

I'm from Iligan City as well...I got in there once during a GSP campaign. Have to say that the infrastructures as well as the abandoned objects are in a very poor condition that time. But the area is super huge. I really² want to tour the whole area however I was quite scared because of some random snakes that can possibly just crawl or even hang in front/above of me lolol.

The lack of emotion in your presentations is really appreciated. I don’t feel the need to apply criticism or read between the lines and you sound level-headed. You don’t spare any details. Even when I sometimes disagree with the information presented, I can’t help but also appreciate that you don’t incessantly hamfist your worldview in your videos. 👍

@turdferguson3400

2 жыл бұрын

There's definitely a lot of emotion in the presentation: it's a very sad story of corruption and mismanagement and the loss of a country's amazing industry.

@ArawnOfAnnwn

2 жыл бұрын

@@turdferguson3400 Emotion in the story itself perhaps, but not in his presentation of it. He always maintains composure and an even tone no matter the topic at hand.

@xXxSkyViperxXx

2 жыл бұрын

i guess he records the script rereading so passed the first reaction emotions already

@oriole8789

2 жыл бұрын

Yeah, to each their own. Some people can't pay attention to information, unless it's presented in an emotionally-engaging way. It's a different audience. Personally, I like dry, factual presentations like this. I would say "the general public" prefers emotional presentations. Tech and business people prefer dry and factual.

@norandomstuff

Жыл бұрын

unlike real life lore.......

Who would have thought that lack of innovation, incompetent management, overly generous compensation, and reliance on government bailouts ruins competitiveness?

Ramos is a soldier with no prior knowledge and experience about business and economics. When the government started to neglect its properties and companies, it gave way to opportunistic entities to slowly destroy Philippine economy from the inside.

@Monstrick1

Жыл бұрын

No one is interested in success but yourself. It seems stupid that they just tossed management to ousiders, probably because it's own got overly corrupt. It's a common attempt to a common problem.

@abdulfatahpandita1565

Жыл бұрын

Ramos is a Civil Engineer wtf r u talking about

@wysteriousmimic1402

Жыл бұрын

What really happened is that he just continued what Cory started. Cory is the one who initiated all these sellings of government owned industrial companies to foreign investors, to provide opportunity for conglomerates like the Sy, Lopez, Cojuancos etc. It's not like FVR is dumb, it's a planned scheme starting from ousting Marcos so that private companies can take hold of the Philippine's natural resources and start monopolizing the capitalization of the industrial companies like mining, lumber export etc. it is similar to the tactics of the South Korean chaebol where the government is slave to these private companies because they got too much unchecked riches and the government cant say no to them

@theotherohlourdespadua1131

Жыл бұрын

@@wysteriousmimic1402 And he didn't do a good job developing those...

@juamu1132

Жыл бұрын

@@abdulfatahpandita1565 a civil engineer that doesn't understand the strategic value of steel.

After years working with steel as a boilermaker this was an interesting insight into the base product production in the Asia/pacific region. Well presented.

Minor correction: a blast furnace does not produce steel, it produces pig iron. To convert the iron into steel requires additional processing to remove the excess carbon, typically in a basic oxygen furnace.

As a Filipino I highly appreciate this video. It's so interesting that NSC was actually a somewhat successful example of a "government-owned- and controlled corporation" when the term has suffered a pretty bad rap and equated itself to corruption. It is indeed sad that the 1995 privatization basically sent it to its grave - and again, another trope inversion, this time that privatization can actually be a bad thing. Many thanks for this bit of history - there isn't enough of it being taught to my countrymen to be honest.

@arcsolomon6360

2 жыл бұрын

Privatization is not bad every country is doing....PLDT was once a dying government company until it was privatized. PAL is also the same

@regulate.artificer_g23.mdctlsk

2 жыл бұрын

"Trope inversion"? No, that was the natural outcome. The reason you don't hear about this story/outcome often - unless you live in countries like USA - was because of laws preventing such things from happening, or at the very least, labor unions calling out the corporations to stop them from making a stupid move. It's only when stupid decisions were made - often capitalistic/neoliberal-centric - like F. Ramos and F. Marcos where things start going to shit.

@regulate.artificer_g23.mdctlsk

2 жыл бұрын

@@arcsolomon6360 "Privatization is not bad" LMAO you should talk with the Brits about that, especially about the privatization of their water and their trains.

@magnusesophagus8195

2 жыл бұрын

@@arcsolomon6360 do you know the real history of PAL before and after Marcos regime?

@arcsolomon6360

2 жыл бұрын

@@magnusesophagus8195 dont talk about politics it was 1986 marcos who signed Presidential decree 2029 2030

The company was looted by the original Filipino owners from the get go. Sales were exclusively channeled through a "marketing company", which never paid the steel mill while collecting the sales revenues from customers. The government was also left holding the bag by having to make good on the guarantees it issued for the loans by which the owners were supposed to pay the equipment suppliers. Having been built to a scale below the minimum economic size, the plant nevertheless saw a renaissance of sorts during the 80's through the combination of the earnest efforts of government appointed management, and tariff protection. During the 90's, the company was privatised by the Fidel Ramos administration, which inexplicably sold a bunch of other government owned assets besides the steel mill to dodgy Malaysian investors who merely looted the assets. Ramos also misguidedly lowered tariffs, supposedly to prod Filipino enterprises to become competitive without however building the infrastructure to help them operate competitively. The project never had a chance to fulfill its declared mission.

@CenturyPHirstCorporationInc

2 жыл бұрын

The Jacinto's?

@folag

2 жыл бұрын

@@CenturyPHirstCorporationInc Be careful not to tar the entire Jacinto clan.

@rock_ok

2 жыл бұрын

the entire media was on it and it was said it was illegal abscbn had a coverage of the issues the lead poisoning. everyone was environmental and the smokes going out from its steel industries. in the first place, it should never be close to a city or town or village maybe it was close because of those issues. famous last words "the government does not run a steel industry" if the government had only run it and it was never privatized then maybe it had a chance. like this in modern times were people are doing volunteer work and unpaid jobs are common. then may be it can stay afloat longer

@Typesmacker

2 жыл бұрын

I agree, so sad.

@darrellng7617

2 жыл бұрын

am not even surprised..how much do filipino oligarchs help in nation building vs chaebols, its disgraceful.

Well researched and presented, thank you for all the work and for sharing.

Thank you for your great quality content.

Thank you for the very informative report on the rise and fall of the Philippine Steel Industry based in Iligan City.

Rarely does a KZread video speak about something very personal to me. Born and raised in “Steeltown”! Great job with this video!

This coming across my feed brought back the memory of creating NSC’s first web site for it shortly after the Internet reached the Philippines in 1994. I was working at the US Embassy running IT at the USIA Publishing Center and had gotten us connected to the Internet via Mozcom, the first ISP there. Mozcom didn’t have anyone on staff to create web pages and the Netscape graphic web browser had just been launched so I volunteered to create a Mozcom’s web site and wound up running the server as web master. National Steel was also a Mozcom client and seeing someone from it on-line one day I initiated a chat session over UNIX and asked if they would like a web site. It took some weeks for the IT guys to get approval and supply a few photos I could scan and it didn’t have much besides contact info but it got noticed and mentioned a short time later in an Asia Business Week article about businesses in Asia on the net. That generated a lot of buzz about the Internet in the Philippine business community and led to me doing demos for Mozcom and teaching a class at the USIS library in Makati in 1995 on how to create and run a web site which was attended by 80 people from the IT staffs of media outlets and government offices including the entire IT staff of the Philippine President. I also started and ran an index site for Philippine content on the web named “Soc.Culture.Filipino” after the usenet group that inspired it which by 1997 when search engines made it obsolete had about 700 sites linked.

I highly appreciate your presentation. Bad business decisions that started with American protectionist loan terms, compounded by greed & incompetent management lead to this sad state of this supposedly pillar of manufacturing and construction industry. I got depressed over a regretful wasted opportunity.

@cv990a4

2 жыл бұрын

Export credit agency financing is routine for these kinds of purchases - most large countries finance exports of their own goods, whether the US, UK, France, Germany, Brazil, Canada, Japan, etc. China hands out $billions in loans and grants to countries globally, all predicated on Chinese companies doing the work/providing the goods. I can't say what happened in the 1950s/1960s (though at the time, US steel-making equipment was probably as good as any in the world, given the US was then the leading steel-maker), but these days, companies would compete globally for the business, with export credit agency financing being part of the equation for the overall competitiveness of the bid. In other words, "protectionist" is, at least, reductionist in terms of what happens.

@brodriguez11000

2 жыл бұрын

@@cv990a4 In summery every country looks out for it's own interests. Maybe a lot of failures can be placed on not enough love being spread around.

@manofcultura

2 жыл бұрын

You can’t just blame American loan terms in general. The China clique led by Clinton, who orchestrated favorable trade status and WTO membership for their CCP allies had every reason to disrupt every other non Chinese developing East Asian industrialization. China shares the majority of the blame as they enticed corrupt politicians in the US and philippines.

@SlimjimMK11

2 жыл бұрын

LOL.... It is the story of the Philippines mate.. How do you make a Filipino a millionaire?? Give him two million and wait a couple of months.. Corporations are merely ATMs for the elites..

@notamoonraker

2 жыл бұрын

Those factors (corruption's the most notable), added with P.R.China's steel dumping practice.. ultimately led to its downfall.

Knowing that we had a national champion makes me sad.

@kkklover89

2 жыл бұрын

Coming from the same guy who sold petron. Look at oil prices now. Edsa was not about liberating the filipino people, but liberating the assets of the filipino people.

@yanglee1404

2 жыл бұрын

It's stupid to accept the loan via privatisation first. The steel mill should be established under able people and governmental monitoring and support until it became a world class steel giant or well managed, then privatisation could be considered. Able people and management matter most. Look at the stories of Taiwan in establishing steel industry and semiconductor industry, you'll understand the differences.

@andreascserna

2 жыл бұрын

@@kkklover89 please explain how you correlate the relationship between Petrons sale in the 90s to today's prices. Your second sentence is explains your comment as political spite when this is a channel about economic and scientific historical analysis.

@kkklover89

2 жыл бұрын

@@andreascserna study first who sold petron and economic history. Your iq is the same as when edsa occured.

@andreascserna

2 жыл бұрын

@@kkklover89 you come here making broad claims with no explanation then you call other people dumb for not assuming you are correct let alone explaining how it relates to a video about the history of the Philippines steel industry. Classic propaganda.

What a great, extremely professionally made documentary -- so different from the many other, amateur and less polished videos coming out of the Philippines. I always wondered about the background story of Iligan Steel Mills and the Jacintos. Of course, you gave a very polite and refined version of ISMI's arc under the Jacintos and transitioning into it becoming nationalized under the venal Ferdinand Marcos' regime. In all its years as its own republic, one really wonders how the RP, with sending a few hundred of its best educated sons and daughters to Ivy League schools and the best Business Admins schools in the West (Wharton, London School of Economics), how the RP is still a corrupt quagmire. I think the story of ISMI is the best example of that continuing malaise which now gets a new chapter under a Marcos II admin, with a failed and fake Wharton "graduate" as the new president. Good luck, Philippines. You can't seem to get a break.

@AkoyTamad

2 жыл бұрын

The people can't get break as the people keep voting for people they like and not people they need.

@mylesgarcia4625

2 жыл бұрын

@Mr. Chairman Sadly, a lot of those 30 million votes are young ones, very impressionable 25 years and younger (who didn't even vote in 2016 when Leni beat BBM). So a lot of those naive Tik-Tok generation voters were born after 1990 and of course bought into the glossed-over, Cambridge Analytica-doctored bio of BBM and the tarnished Dross Age of his father's time! Am glad I got out of the Philippines 50 years ago. But sad to see such a blessed place led astray by new dazzling technology and no deeper sense of history. Hopefully, it won't repeat in the USA.

@josephcadiao5751

2 жыл бұрын

Ironically the best performing years of NSC was under the Marcos Administration and went downhill when preceded by the housewife who knows shit about managing the economy. 🤮

@mylesgarcia4625

2 жыл бұрын

@@josephcadiao5751 LOL!! And Marcos did? Yeah, he had economists working for him to FUNNEL 35% of all the country's earnings into his secret bank accounts. Yeah, Mrs. Aquino was too IGNORANT to know about those devious, Machiavellian practices. So, on that point, you're right. Moron!

@randomly_random_0

2 жыл бұрын

your 1987 Constitution's purpose was to stop a dictator and another Marcos from being elected again in national positions. Unfortunately, your constitution has failed you multiple times. It must be changed

I was an account officer of Security Bank and I visited that plant! I was amazed how huge it was when the hot steel would roll out and get pounded

"The government ain't supposed to run a steel company" - Fidel Ramos a.k.a. Boy Benta

@leclanche7127

2 жыл бұрын

American boy eh

@ianhomerpura8937

2 жыл бұрын

Mga na impluwensyahan masyado ng American libertarians, especially Friedman.

@harukrentz435

2 жыл бұрын

@@leclanche7127 lol i was about to say the same 😂 Ramos was a man growing up under the US' influence but i think more and more countries are understand the importance of basic industry owned by the state.

@paranoya733

2 жыл бұрын

LOL PH is not a private country yankee boy!!

@josemartymario3137

2 жыл бұрын

Natumbok mo.🤣🤣🤣🤣

I love the idea of tracing fundamental industries and their history for different Asian countries. A fabulous report here. Thanks

Thanks for sharing this video. My father used to work here. I was quite lucky enough to have the chance to visit the administration building. Lots of relics and untold stories.

Thanks for well presented information on an industry that was once the pride & joy of a country.

Always wondered what happened. My mom’s family is from a town an hour out and we always landed in Iligan from Cebu by ship en route. What happened to Iligan is like what happened to Detroit or Manchester, industrial cities that decayed and became crime ridden.

@johnwalsh4857

2 жыл бұрын

what happened, stupid corrupt PH gov. local and Manila gov. and corrupt local managers is what happened. That is the story of the PH since the 70s, misrun

@exudeku

2 жыл бұрын

Lmao I can see that. Detroit is an industrial powerhouse, now, you cant get shit in Detroit. I hope this Marcos' spawnling will prio implement and industrialize, unlike Digong's fetish of having a police and army empire. I have my hopes with the new Pres, even his dad is infamous internationally.

@aaronvacalares

2 жыл бұрын

why the "crime ridden" part? Iligan is one of the safest cities in the country.

@norm7312

2 жыл бұрын

@@exudeku tbh I have low expectations for Marcos lol. He doesn't seem to actually care about the country but instead aims to wipe away the sins of Marcos Sr.

@exudeku

2 жыл бұрын

@@norm7312 lmao a Vtuber simp is giving opinions... Yeah I also have low expectations too, pero lets cut the slack and see what 1 year in his administration would be. At least Leni is doing Samaritan works and not giving a shit about major politics now

I live in Iligan for 17 years I am just a few to 7km away from it (i live in the eastern area, whereas NSC is at the west). My grandfather and mom used to work there. The NSC was so popular back in the day that workers from the said factory would drop off their uniforms to (let's say) Jollibee or any eating place which indicates payment will be made later on, if whatsoever the worker has no money. You would be considered lucky, and often talked about simply because you work at NSC. Those who are working at the factory but, have no place to reside, they would stay in a barangay (village) named Steeltown (if u know, you know). If I recall, the barangay costs is covered by NSC itself. During the pandemic, we (my family) were assigned to be there for a swab test, thus making my travel to the abandoned NSC a first time. It was like any other abandoned warehouse: rusty, still standing, some of the machinery left untouched, and some materials are not corroded or rusted. From country to country, the NS factory was used then abandoned again and again. The fact that the NSC was sold out to another somewhat degrades the pride and economy of the city. Along with the nickname of Iligan "The City of Waterfalls", (which the city was once called "The City of Industry"), it would've doubled the reputation of both the city and the country if NSC was still active today. Though I lack further knowledge of the NSC, this is all I can come up with. edit: changed from 10 to 7 since it would waayyyy too far haha

@alma09876

2 жыл бұрын

Thank Fidel Ramos for degrading the economy of Iligan.

@iketheoiskhurgan

2 жыл бұрын

@@alma09876 yeah all this fckup-ery is the reason why (idk but) we won't change, but i might be wrong

@theotherohlourdespadua1131

Жыл бұрын

The closure of NSC is what gives Iligan this feeling it has no idea where it goes from there. Wala na yatang ideya kung ano ba talaga siya. Given the rather uninspiring rules of various mayors (especially Regencia, I don't really understand his platform) didn't help much..

@iketheoiskhurgan

Жыл бұрын

@@theotherohlourdespadua1131 totoo yun po pre, especially yung uninspiring rules of various mayors. Hindi po ako open sa kalakaran namin pero i would know if something is wrong or rather, lacking.

Thank you for this informative video, please upload more such videos that bring light to different Philippine companies.

I actually went to the place for a week during a Boy Scout Venture Camping Event. The place was full of Iron dust. Wherever you pick up dirt or sand there's usually Iron mixed in. Most of the equipment inside the rundowned buildings seemed very foreign due to its size and complexity.

I've been there weeks ago for a camping trip near iligan city, And seeing that mega facility my own eyes is pretty astonishing and also sad because of what happened to it. My friend's father used to work in there as a office communication personel , he told us his work expiriences in nsc and how it crashed.

It’s interesting how the story was different in Brazil and South Korea. For instance, In Brazil a large state owned steel mill (CSN) was privatized on the 90s, nowadays the company is extremely successful , generating jobs, paying taxes and being a key exporter.

@savioskyhague2793

8 ай бұрын

Because of the lack of monopoly.

Awesome topic did’nt hear anything about that here in PH. Thanks for Covering.

Thank you for an unbiased and objective view of this matter.

Excellent and interesting presentation. Permit me to add one correction regarding the "classic" steel making process: step 1: sintering (as you correctly state) step 2: producing pig iron in a blast furnace (this requires coke as an additional component) nowadays pig iron is mostly transported to the next step in liquid form via torpedo cars step 3a: converting pig iron into steel in basic oxygen plant: oxygen is blown into or on top of the liquid pig iron and "burns off" the carbon contained in the pig iron step 3b: secondary metallurgy: adding more "ingredients" to get the required alloy, degassing etc. step 4: casting of the liquid steel: nowadays mostly continuous casting into slabs or billets step 5: hot rolling of slabs / billets into thick plates or coiled sheet metal or bars followed by optional steps like cold rolling, tin coating, pickling etc. I find it quite strange that the construction of the plant was initially motivated by the desire to use domestic iron ore. This never happened as the plant obviously used just an electric arc furnace to recycle scrap. The building can be identified on google earth and is located at the Western end of the plant. A fully integrated mill would have been a huge investment, though, as it would have required one or more blast furnaces, a basic oxygen plant and ideally a coke plant.

Im proud of TATA's that india from start always had a robust steel industry ran by a private sector

@thelakeman2538

2 жыл бұрын

Steel is one of those industries where both public and private sector companies have been major players for decades, for example the public sector SAIL has a larger domestic production today than Tata steel.

@valopf7866

2 жыл бұрын

This video is not about India. Stop forcing your "Indian pride" on off-topic content. Did you see any other people from country's like Germany, the USA, Japan, China or South Korea posting about how proud they are of their steel industry? The answer is no, because it's not relevant information to the video.

Thank you for that wonderful talk. You have a good clear voice, and the content is very concise, sort of like a PBS or NOVA documentary will all the waffle removed.

luv the content and the info. thank you for sharing

I have always wondered about that steel mill's history, since I grew up in that place. Passing by through the old abandoned mill, wondering what is beyond it's mossy walls. Now I know, and boy what a shame that is of how it fell from grace.

@blackpepperburger

2 жыл бұрын

blame ramos

@celestinovelarde9601

2 жыл бұрын

@@blackpepperburger oh! It's time to Take it back all ! Make big ship for Fishfolks, ECT¡ Navy's big destroyers, army's big cannón and Main battle tanks and bolos

@jbertrow1056

2 жыл бұрын

im hoping marcos will respawn this nsc for the people of the Philippines..

@kulasisinigagongdigongnyo4925

2 жыл бұрын

@@blackpepperburger nahh it was marcos sr who coz the collapse of National Steel .He put in experienced people when ML was declared until it collapse when he was kick out .

@Abetz1234

2 жыл бұрын

@@blackpepperburger privatization did more good things than bad (ex. utilities and communication industry improved) i guess it was just mismanaged

Thank you for sharing this information. When I was young, my dad thought me about this company and how the Philippines is suffering in infrastructure since it can no longer make its own steel which should be a basic requirement for industrialization.

CONGRATULATIONS FOR SUCH A WONDERFUL AND USEFUL PRESENTATION 💖💖

Thank you so much for the research on this video. (P.S. noticed at 10:25 - I believe the video script is explaining the 1980s but the title card and timeline says 1990s).

First time to hear a detailed narrative why we lost NSC. I used to buy truckloads of steel in the early 80's. Thank you!!

my father had worked as foreman in NSC (national steel corporation) before, and he retired early before it was bankrupt, he realized that NSC has been mismanage and many employee receiving salary while absent during working hours. gladly my father received separation fee and most of others aren't.

Wow. I honestly didnt expect there was enough published/public material out there to make a thorough research of any Filipino corporation. Much is usually cloaked in secrecy, especially since most nationalized/formerly national companies tend to be vehicles for slush funds of politicians.

@rolandrivera3004

2 жыл бұрын

Sa maraming obserbasyon sa mga kompanya sa pilipinas at sa mga ilang mga business ..kpag nagkaroon ng mga NGOs mass komplain at mga napasukan ng mga ilfitrator nang ilang unionista na maka leftist ay maaring hindi magtagal ang mga operasyon kpag hindi agad naresolba ang mga daing at mga hiningi na kung anu anupa ..dyan hindi tumatagal ang mga maayos na simula ..kaya wag maglagay ng mga union..at ibigay lang ang maayos na patakaran at suplay ng mga kailangan sa pagawaan at tama sweldo sa tamang oras at paydate..

my dad is one of the disgruntled higher management because of what Ramos did! My Dad eventually was hired by SteelAsia, and he was one of the top dogs who established steelasia but now he is retired and enjoying his life here in the US with me

Great Job - A very good book, well written, easy to get through quickly is The POSCO Strategy by William T. Hogan S.J. The Posco story is a natural for Asionometry to pick up to the present day from where the book ends.

I'd be interested in a video covering NIMH batteries. Very specifically to cover the patent war that oil companies waged against Toyota when the all-electric RAV4 debuted in the late 90s.

Thank you for the interesting presentation!

Thanks for this valuable info. My brother was an employee of NSC..

*French kiss* 👌 Gotta love these case studies on these national champions are by far some of my favorites.

It's a surprise, as a resident of Iligan City, to see a youtube video about this rundown, seemingly rotten steel plant near the outskirts of city proper, Its great to see the history of this plant (even though im a resident I didnt know about it's history and how it closed) as a resident. It is sad to see what could've been a manufacturing giant getting closed down thanks to incompetent management, It's a good provider of jobs but i suppose it is what it is, random fact though, (maybe because of this closure) the city's title was changed from Industrial city of the South to The City of Majestic waterfalls. Anyways I love the video, informative and simple. Keep it up!

@theotherohlourdespadua1131

Жыл бұрын

Seven waterfalls, still cannot provide cheap energy. ILPI is a city joke because of it...

My father used to work here. My favorite moments here was every founding anniversary I think it was February. There were lots of activities for the children of the employees. Lots of free foods. I got to join a drawing contest which was my most favorite.

Very interesting presentation. Thank you. I would suggest that any time you reference an amount of money (e.g., 2 million pesos), you also add an equivalent amount in dollars (and maybe also euros) adjusted for inflation. I've seen other channels provide this information with on-screen text or subtitles.

Now, the industrial center of the Philippines is Calabarzon, the only region where manufacturing and industrial sector is the largest contributor to regional GDP. The rest of the country's regions rely more on service (i.e. BPO, tourism, hotel, etc.) sector. There is steelworks mill that is due to completion in 2023 at Batangas, hopefully that will be the start of steel industry's revitalization in the country.

@ianhomerpura8937

2 жыл бұрын

Where in Batangas?

@abrahamdsl

2 жыл бұрын

Huh? Never heard of that

@lightrain1227

2 жыл бұрын

Chinese owned?

@michaeljunior1445

2 жыл бұрын

Philippines mining industry for iron ore is also a major source of income. Samar, Surigao, Dinagat. Hope we will have industries that will process this mineral.

@ianhomerpura8937

2 жыл бұрын

@@lightrain1227 Filipino.

Every failure, just like every success, has a story to tell. You told this one well. Very informative and in depth. I spent a lot of time throughout Asia during the 80’s and 1990’s and the steel industry along the waterfronts in each country was impressive at the time.

As a resident in iligan city ,NSC admin building was made as temporary college school named Colegio de Iligan and im one of their students ,everytime we went to our demo farm ( we have farm inside in NSC for agriculture students ) we seen somebody whos been likely conducting an inspection or site visit

I really liked this vid. I think you should do more vids about heavy industry in Asia,

I worked with nsc during its glorious years and seen management changes. I can only compare its fate to a country depending on its leaders.

My uncle used to work at NSC, now he works overseas together with my father, possibly due to better opportunities or because of lower working conditions that he didn't really agree with, now, me and my cousins pass by that building and always wondered from a young age about if that building was ever abandoned or just looked worn out, as there were still lights in the building although the buildings look like they are in very harsh and poorly maintained, thankfully this video gives us insight on the topic as well as the background of why or how it is what it is now.

This is interesting. Looking forward for more Philippine related contents.

@heavenboms8111

2 жыл бұрын

Grabe mas prefer pa ng ibang bansa ang nsc steel kahit mahal ang importation kasi maganda quality. Kaya malalaki sahod ng mga tao. Pag ganyan lahat ng pamamalakad ng industrya, lalaki di sahod ng karamihan mamamayan.

Great presentation 👌

Steel industry is extremely competitive worldwide. Most of the steel companies in the USA like Kaiser and US Steel are now defunct or on life support.

Im 33 years old and the word "NASCO" sounds very familiar. I recall now that when I was under 8 years old the word "NASCO" was always reported in Philippine evening news. During the 90s. Thats why it sounded so familiar to me even though I didnt know what NASCO meant

An excellent report,” could be a giant” who and what were responsible to the neglect and downfall! Very sad.

Great video...Salamat Po...it's sad for The PI, it's been one step forward two steps back since WWII 😞 but we still ❤ The PI

Im filipino and watching this is very sad

so Ramos sold the company. I believe he also sold other state-owned companies and privatized them. That's a big shame. Philippines could have been better if we did not sell Meralco, Petron and many other state-owned companies.

@ginochristiano1397

2 жыл бұрын

Yea, ideally the gov should have kept those crucial industries. But at the time , they say it was necessary due to a bankrupt government, neoliberalism, and an effort to root out crony capitalism.

@henli-rw5dw

2 жыл бұрын

When the government is poorly run, how you expect it to run a corporation well enough to compete?

@giripog28

2 жыл бұрын

@@ginochristiano1397 Selling GOCCs is an easy way out for them but it the real effect is being felt for years now since the privatization.

@madensmith7014

2 жыл бұрын

Privitizing everything haphazardly caused a lot of problems. The UK did it to it's railways and shit happened. Some industries need to be state-owned or at least be subsidized by the government.

@madensmith7014

2 жыл бұрын

@@henli-rw5dw "The government is shit at handling things, private companies and the free market will fix all of our problems and is the only way to run the economy"

Sad fall of a local industry. Thanks for the vid.

Thank you for this video.

Thanks you sir. I hope it will open again for recycling scrap metal . Most metal after use sent to china and a there nation . Now this days it like a movie don't look up there more none scene problems. Now this days more people want to be happy able forget the problem and only few solve the problem in able to be happy . From Philippines again thanks you ❤️ Sir 😊 for sharing our history for the next generation to able to learn from past mistake.

Unlike the highly successful Corus Steel company owned by Tata in the UK. It is a shining example of how an industry should be run!

Topic is dry but presentation is very interesting.. I watched every second.

Fascinating. Thanks!

Thanks to president Ramos “ boy Benta”. Philippines now importing steel instead of exporting.

Its a shame to see a major upstream industry go down like that. What I can't understand is why the government did not impose import duties on steel imports, so as to save NSC and all those jobs. The initial planning was on que to build up a boats and shipbuilding plus other downstream industries. Something was not right there, maybe to do with family feuds?

@aspopulvera9130

2 жыл бұрын

That's probably the case considering family feud is on high gear among the politicians during martial law

@cede4587

2 жыл бұрын

@Kosorou Gaming Archives He sold it because of debts. They need to find money to fund other projects but they cannot take anymore loans.

@Ai-vq8rj

Жыл бұрын

@Kosorou - Gaming Completionist it's bankrupt and losing money so do you still want to keep it? Even today the government is looking for MRT3 buyer because its losing money....just a simple arithmetic will tell you to let go of anything that is sinking

I was a student during the best days of NSC and doing my internship in one of the expensive hospitals in Iligan city. Every time an NSC worker comes at the ER for admission showing his ID, then,that’s it, no more questions will be ask on whether he have medical insurance and all

How do you know about these obscure topics? A video on how you're able to find these resources would a godsend.

"NSC would have been a global giant" The Philippines would have been a global giant.

@pushslice

2 жыл бұрын

*SIGH* Thanks, Ferdinand :-/ In the postwar years leading up to this crook taking over, RP was the shining & rising star of Asia.

@onemigreyes8950

2 жыл бұрын

@@pushslice I'm not sure if you were watching the video details... "After martial law of 1972-IISMI was integrated to the NSC completed until 1974.expanding it's capacity from 141K tons to five years later to 450K tons in 1979 thus laying down the NSC golden age. "By then it exited survival mode and became the country's 11th largest corporation". Now I'm not sure if the frown (or smile perhaps)after the Ferdinand means you treat him as the "crook" as per documentary "One view is that the Jacinto's treated the IISMI as an ATM "and mismanagement of privates who took over cause the decline of IISMI...Let's be objective and stick to the facts provided....SIGH...

@TheKb117

2 жыл бұрын

@@pushslice but as I understood from the video, the heydays of steel mill happened durin Ferdinand Marcos' years. Due to global crisis, subsequent government failed to aid in resurrectingu it. Pls go watch it again. Unless, of course, you want to stay biased with unsubstantiated left-wing beliefs.

@pushslice

2 жыл бұрын

@@TheKb117 i was replying to the original commenter's over-arching statement, which wasn't about NSC in particular. Study the RP's economy and industry over those 20 years, please, go ahead (I have)...and guess what? I'll even 'spot' you all the human rights stuff for a moment, just for arguments' sake. Just focus on *equitable* economic development arc of the RP during the period. FUCKING embarrassing.

@azuaraikrezeul1677

2 жыл бұрын

@@pushslice it was ramos that sold NSC. marcos reformed the NSC.

A correction in the steel making process. Iron ore fines are sintered in sintrring machine using coke breeze as fuel. The sinter is charged to the blast furnace with coke and limestone from the top of the furnace, from the bottom of the blast furnace slag is tapped off. And hot meters al that is liquid iron is tapped from the tap hole. This liquid iron is converted to steel in an oxygen converter called LD or BOF converter to liquid steel. Liquid steel is converted to billers blooms slabs in a continuous casting machine. The cast bullets blooms slabs are reheated and rolled in rolling mills to produce reinforcing bars section and plates and sheets. Electric are furnace produces steel by melting steel scrap and refining and adjusting composition with addition of ferro alloys. It produces high quality steels it is not inferior to the blast furnace BOF steel. In fact very high quality steels for turbine shafts are produced in electric arc furnace.

@joseondona5534

2 жыл бұрын

Dakong salot gyud to ng mga Aquino, Ramos, wa Gabai ay! Gigabaan diay pero ulahi na apan may panahon pa sa pagbangon

Excellent analysis! Who built the initial plant?

I hope you can do a similar presentation on the case of Elitool, another world class philippine company producing world class equipment which went under..

Your steel processing is a bit incorrect. It's true that iron ore is pelletized and sintered prior to being sent to a blast furnace, but coke isn't added at this stage. Coke is added at the blast furnace stage with the pellets to reduce the iron ore into metallic pig iron, which is further refined in Basic oxygen furnaces to Steel.

My father used to work there, he mentions that NSC's downfall was because of politics from outside and inside.

If it still sits there, then we can still do something about it. Hope Iligan City people someday would prosper again with such a promising Company, and its share to the Phillippines economy rise.

Very interesting!! I`d love to see something similar about german Steel producers like Thyssen Krupp, I`m sure there are interesting things to talk about

Fidel Ramos' privatization drive is arguably the source of the problems in the Philippine economy today. High Utility prices, the loss of important state industries, companies and assets, and the grip of the oligarchy in all aspects of the economy.

@justsomehaatonpassingby4488

2 жыл бұрын

Yet you don't hear the media talking about it because they profited from it... Ramos is a traitor who sold the country to the oligarchs and foreigners, that's the painful truth

@jeffgumawid7554

2 жыл бұрын

@@justsomehaatonpassingby4488 True. And I think it is high time for the government to reclaim or restart some of these industries today.

@garywheeler7039

Жыл бұрын

Oligarchies are a problem around the world.

What we are all missing is that the Philippines is trying to industrialize under democracy government, Vietnam, S Korea, Singapore, Taiwan etc build their initial industrial capacity under a centralised government or dictatorship where state and national interests supersede people's interests.

@madensmith7014

2 жыл бұрын

Marcos era was a dictatorship and not so surprisingly the steel industry went stable. There was a lack of growth and complacency, but given all the debts taken in during those times for other projects and political instability, it's not surprising that it wasn't able to expand. Fuck the following admins that stopped supporting vital sectors for industry and national growth.

@happyface96

2 жыл бұрын

Philippines in general is just a dud. In more ways than one

@augustuslunasol10thapostle

2 жыл бұрын

Yeah tbh industrialization only works with a strong centralized government

@thrangnguyen4434

2 жыл бұрын

@@augustuslunasol10thapostle Not really, Australia industrialization value added in $ is almost equal to Philippine nominal GDP.

@theotherohlourdespadua1131

Жыл бұрын

@@augustuslunasol10thapostle If you want it fast. Other countries like the US, Britain and Germany have their steel industry sprang up decentralized and powered due to infrastructure demands. For example, Andrew Carnegie's steel mill group in Pittsburgh, Pa. got a big boost after the Civil War due to the construction of the US Transcontinental Railroad...

Super informative

It is good to become aware of the missing parts of the story that I know.

Nice content. To be clear, I don't expect catastrophic inflation anytime soon. But it doesn't hurt to bolster my finances ahead of uncertain economic times.

@binagital5665

2 жыл бұрын

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@lindalily6924

2 жыл бұрын

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@jasonthomas269

2 жыл бұрын

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@abscottcoleman400

2 жыл бұрын

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@katlinmicheal8121

2 жыл бұрын

I've seen so many review about this man called Romero pieto who is he ?

Best practice is to credit the Reddit user, rather than just "Source: Reddit." Imagine if someone credited a clip from this video as "Source: KZread."

Thank you FVR! This is all on you.

Another fascinating video. Unrelated to the Phillipines, but I like how China Steel really leaned in to the whole "welcome to the home of Evil Empire Incorporated" vibe with their HQ.

Seems like the wrong pattern to build up an integrated steel making company. If you can't get blast furnaces capitalized, you'd be better off staying nimble and just compete in specialty niches.

I wonder if it's the same thing with what happened to our copper refineries here in the Philippines. I hear there's also environmental issues with it cause they used a chemical process to purify raw copper.

@kp5343

2 жыл бұрын

Negligible

@yndiiatecow2536

2 жыл бұрын

Canadians with their gov't help destroy and polluted the philippines copper industry, then left, without remorse of what they did. Payed a little bit to clean up pollution, but mot much compare to their profits.

@dgr8flav

2 жыл бұрын

@@yndiiatecow2536 We, and employees, often forget that businesses are there to make profits.

@yndiiatecow2536

2 жыл бұрын

@@dgr8flav to make profits, but not to destroy environment, because it's not canadian soil, it's phillippines that will suffer and it's people not Canadian people, and their leader is calling everybody about environment protection what a hypocrite Canadians.

@morjvidz6416

2 жыл бұрын

@@yndiiatecow2536 bcoz of greed and corruption from our govrnment!

Great lesson

Hope you would also make documentary on Phillipines semiconductor industry.