 SK Chemicals, part of the SK Group, looked into the possibility of setting up a coconut-processing plant there in 2004, which would process one billion coconuts per year.Korean and Japanese investors have set up retirement communities in Davao City for their respective nationals, and in 2008 looked into expanding their sites.The Korea International Cooperation Agency is also working with the local government of Davao del Sur on a P193.36 rice-processing plant designed to cut postharvest losses from 25% to 5%.