17 March 2025, Seoul – Ambassador Ma. Theresa Dizon-De Vega welcomed Ministry of Trade, Industry, and Energy Director General Dr. Kim Jongchul to the Philippine Embassy on 13 March 2025 to discuss advancements on PH - ROK trade and economic relations. The Philippines and the Republic of Korea are working to enhance economic engagement in untapped and emerging areas of cooperation as among the priority areas of our strategic partnership.

Director General Kim highlighted the dynamic and mutually beneficial economic partnership between the Philippines and the Republic of Korea, and recognized coordination between counterparts as an important aspect of our vibrant economic relations.
 
In 2024, the Philippines signed and ratified a landmark Free Trade Agreement with the Republic of Korea which entered into force on 31 December 2024. The FTA is expected to boost the USD 10 billion dollars trade volume between both countries recorded in 2024 by creating new opportunities for businesses and consumers, while fostering strong and resilient supply chains. 

Aside from the FTA, the Philippines and the Republic of Korea also inked mutually beneficial agreements for Strategic Cooperation on Critical Raw Minerals Supply Chains and Trade, Economic, Energy Cooperation. END