19 July 2008 - Foreign Affairs Secretary Alberto Romulo and visiting Foreign Affairs and Trade Minister Yu Myung Hwan of the Republic of Korea led the groundbreaking ceremonies of the new Embassy of the Republic of Korea at Fort Bonifacio.

“The new Chancery will be the nexus of stronger cooperation between the Philippines and the Republic of Korea”, declared Secretary Romulo. He said that the expanding ties and widening cooperation between the two countries have “created areas of synergy that have mutually benefited our peoples – in trade, in development assistance, defense and other functional fields.”

Foreign Minister Yu echoed Secretary Romulo’s words, calling the bilateral ties “thriving in economic, cultural and people-to-people links.” He said the new Chancery would be “a reminder of the strong friendship” between the two countries and would usher in “a new era of strong partnership among the Korean Embassy, the Philippine government and the Korean business community.”

Taguig Vice Mayor, attending on behalf of Mayor Fredie Tinga who was out of the country, said that the entry of the ROK Embassy and other diplomatic establishments into the city has made Taguig the “global city that it was truly meant to be.” He added that these developments were a manifestation of the “trust and confidence that Koreans have in the Philippine economy.”

In turn, the two foreign ministers commended the efforts of Taguig Mayor Fredie Tinga and Vice Mayor George Elias for their firm commitment to build a world-class locality, as showcased by its Fort Bonifacio developments.

The site of the new ROK Chancery is a 5,000 square meter area in the McKinley Hills development of Megaworld Corporation. The project will end in the third quarter of 2009, coinciding with the 60th anniversary of diplomatic relations. Designed and constructed by top-notch Korean firms, the new Chancery will be a four-story structure with cutting-edge architecture and adequate areas for Korean community activities.

Key personalities who also attended the ceremony were: Korean Ambassador to the Philippines Hong Jong-Ki; Philippine Ambassador to Korea Luis T. Cruz, PEFTOK Veteran Association President Brig. Gen. Victor Azada (ret); Megaworld Corporation President Andrew Tan; and United Korean Community Association President Lee Young-Baek. END