 In Northern Mindanao, Koreans have come to Cagayan de Oro as ESL students, businesspeople, and missionaries.2013 MOFAT statistics showed 1,000 living there.Korean investment group I. F. Koresco opened a 74-room hotel there in 2006, the Hotel Koresco, and the city government asked for their assistance in negotiating with South Korea's POSCO about the possibility of opening a steel plant there as well.