SEOUL, 27 January 2022 - Philippine Ambassador to Korea Theresa B. Dizon-De Vega witnessed the signing ceremony for six (6) new MOUs under ASEAN-Korea Joint Research and Development (R&D) on 26 January 2022. The event was hosted by the Ministry of Trade, Industry, and Energy (MOTIE) and the Korea Institute for Advancement of Technology (KIAT). Companies based in the Philippines, Indonesia, Vietnam, and Malaysia signed their respective MOUs with Korean companies virtually while the heads of Diplomatic Missions in Korea joined the ceremony in person.

Philippine company KP Motors (an Ayala Corporation Industrials subsidiary) and Korean company ADT Co. Ltd. (KIA, KATECH) signed an MOU on the Philippines PUV class 2 (23-person capacity) electric bus development through air conditioning power system development. The MOU seeks to improve the Electric Vehicle R&D capacities of ASEAN and the Philippines.

In her remarks, Ambassador De Vega highlighted the important role of the private sector in ensuring that the MOU has a favorable outcome. Ambassador De Vega also said that the ROK'S New Southern Policy brought innovative and fundamental changes to bilateral cooperation, including in the transportation and research and development sector.

She also welcomed this initiative greatly and expressed that the Philippines is very appreciative of efforts on research and development in the e-vehicle industry, an emerging sector in the Philippines. According to Ambassador De Vega, the signed MOU is a testament to the Philippines' growing cooperation with the Republic of Korea in green growth, especially in sustainable transportation. The modernization of the E-bus falls under the Philippine Public Utility Vehicle Modernization Program and the Philippine electric bus policy which plans to harness the technological advancement of external partners in the ROK and enable partnerships between ASEAN and ROK's industrial companies. END