30 July 2025, SEOUL - After four years of working towards more robust economic partnership, Philippine Ambassador to Korea Theresa Dizon-De Vega paid a farewell call on Korea’s Minister of Trade Yeo Han Koo on 16 July 2025 with assurances of continued cooperation to further deepen our bilateral and regional trade and investment relations. Milestone economic agreements, including the PH-ROK Free Trade Agreement (FTA), our country’s first bilateral trade agreement in seventeen years, were within the last four years. 

The meeting also underscored shared aspirations for economic resilience, highlighting key growth sectors such as shipbuilding, semiconductors, agri-food processing, and digital commerce. Minister Yeo cited the Ambassador’s instrumental role during the FTA negotiations and expressed optimism for continued bilateral progress under the PH-ROK strategic partnership, particularly in the economic domain.

Both sides also welcomed enhanced cooperation in the digital economy and infrastructure development, including ongoing projects with the Korea Export-Import (KEXIM) Bank and official development assistance support for customs modernization. Discussions likewise touched on evolving global trade dynamics, including tariff issues with major economic partners and the advantages of the Philippines’ trade alignment with Korea and the broader ASEAN trade landscape. The Philippines and the Republic of Korea also share priorities on digital transformation, infrastructure development, and defense industry cooperation. 

The meeting likewise underscored a shared commitment to regional prosperity, resilience, and inclusive growth as both nations prepare for major regional milestones—the ROK hosting of APEC 2025 in Gyeongju and the Philippines’ ASEAN Chairship in 2026. END