15 August, Seoul - The Philippine Embassy in Seoul conducted a joint Know Your Rights and Responsibilities (KYRR) and PEAK Pinoy Entrepreneurship Seminar on "Regulations on Starting a Business in the Philippines" on 21 July 2024, via Zoom and Facebook Live. The seminar, attended by at least 50 participants, was part of the Embassy's KYRR Series and organized in collaboration with PEAK PINOY, a program that provides entrepreneurship and reintegration opportunities to Overseas Filipinos in Korea. PEAK PINOY is a collaborative effort of the Philippine Embassy in Seoul, Philippine Agriculture Office (PAO) in Seoul, the Philippine Trade and Investment Center (PTIC), and the Migrant Workers Office - Overseas Workers Welfare Administration (MWO-OWWA) in Seoul.

In her welcome remarks, Ambassador Theresa Dizon-De Vega emphasized that this installment of the KYRR aligns with the Embassy's initiative to empower Filipinos in Korea by equipping them with the knowledge and resources necessary to successfully navigate the complexities of starting and managing a business in the Philippines. She highlighted the importance of understanding the legal and regulatory framework, which is crucial for Filipinos planning to engage in entrepreneurial activities as part of their reintegration strategy.

The seminar's featured presenter, Atty. Michelle Arias, SGV & Co.'s Tax Principal, provided an exhaustive backgrounder on business regulations in the Philippines. Her presentation covered mandatory permits and licenses, registration requirements, business naming rules, and the procedures for business closures. Participants were given a comprehensive understanding of the legal obligations and steps required to establish a business, helping them to prepare for successful entrepreneurship and reintegration.

During the Q&A session, participants discussed with Atty. Arias points on business naming conventions, the costs associated with permits and licenses, and the timeline for processing these documents, among others.

The program was concluded by Labor Attache Maya Valderrama, who emphasized the importance of continuous learning for overseas Filipinos, especially for those planning to return to the Philippines and start a business. She encouraged participants to utilize the knowledge gained from the seminar to enhance their entrepreneurial plans and assured them of the Embassy's ongoing support through future KYRR installments and PEAK PINOY initiatives.

The next installment of the KYRR Seminar Series is scheduled to take place in the third quarter of 2024. END