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Philippines Joins 3rd ASEAN+3 Economic Cooperation and Financial Stability Forum


18 December 2024, Seoul. The Philippines participated in the 3rd ASEAN+3 Economic Cooperation and Financial Stability Forum, with the theme “Sustainable Growth: Reinforcing Resilience, Revitalizing Productivity,” convened on December 16, 2024, at the Bank of Korea in Seoul. Jointly organized by the ASEAN+3 Macroeconomic Research Office (AMRO), the International Monetary Fund (IMF), and the Bank of Korea. The forum gathered policymakers, academics, and experts to address the region’s economic challenges and explore pathways for sustainable development.

The Philippine delegation included Bangko Sentral ng Pilipinas (BSP) Deputy Governor Francisco G. Dakila, Jr., Department of Finance Undersecretary Joven Balbosa of the International Finance Group (DOF-IFG), and other finance officials. Philippine Ambassador Theresa Dizon-de Vega was likewise present at the forum.

The forum featured keynote messages and presentations from ROK Deputy Prime Minister and Minister of Economy and Finance Sang-mok Choi, AMRO Director Kouqing Li, Nobel Laureate for Economics Simon Johnson, IMF Director Krishna Srinivasan, Indonesian Finance Minister Sri Mulyani Indrawati, ADB President Masatsugu Asakawa and other distinguished experts.

BSP Deputy Government Dakila joined the Panel Session on “Macroeconomic Development and Prospects: Near-term Risks and Policy Directions” where panelists examined near-term risks to macro-financial stability and discussed policy directions to address these challenges.

The forum discussed the urgent need for enhanced economic and financial cooperation among ASEAN+3 countries in the face of evolving challenges and to secure sustainable growth. END

Other News


June 12, 2026
PHILIPPINES AND KOREA FOSTER ENDURING FRIENDSHIP THROUGH ARTISTIC COLLABORATION

Seoul, 3 – 8 June 2026 – In celebration of the 128th anniversary of the commemoration of Philippine Independence and the 77th year of the establishment of Diplomatic Relations between the Republic of the Philippines and the Republic of Korea, the Philippine Embassy in Seoul in partnership with Grida K Pop Art Inc. led by its Founder, Ms. Hee Jung “Julie” Kim, organized a series of simultaneous art exhibitions in Jung-gu, Insa-dong, and Gangnam, showcasing the enduring friendship between the Philippines and Korea through artistic expression.

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June 12, 2026
PHILIPPINES SPOTLIGHTS PRISTINE NATURAL WONDERS AT SEOUL INTERNATIONAL TRAVEL FAIR

Seoul, 04 June 2026 – The Tourism Promotions Board - Philippines (TPB PHL) and the Philippine Department of Tourism-Korea Office (PDOT-Korea) led the Philippines participation in the 41st Seoul International Travel Fair (SITF) held from 4-7 June 2026 at the Convention and Exhibition Center (COEX) Seoul, Republic of Korea. DOT in partnership with Philippine Airlines, Cebu Pacific Air, Radisson Hotel Group, Jpark Island Resort & Waterpark, Marriott International Philippines, Nustar Resort & Casino, and Pinatubo Mountainero Travel and Tours mounted the Philippine booth at the 41st SITF showcasing the Philippines dynamic culture, pristine nature, and premium resort destinations to domestic travelers and industry professionals. In addition, the Puerto Princesa City Government conducted a product presentation promoting Palawan to Korean travelers. Philippine Ambassador to the Republic of Korea, H.E. Bernadette Therese C. Fernandez attended the opening ceremony of the 41st SITF on 04 June 2026. Ambassador Fernandez visited the Philippine booth and expressed the Embassy’s full support to the Philippine delegation emphasizing that “The event serves as a meaningful opportunity to directly showcase the diverse and rich charms of the Philippines to Korean travelers, with whom the Philippines has maintained a close and long-standing partnership.” The Philippine pavilion drew crowd attention as participating companies hosted special presentations with highly coveted prizes including complimentary luxury hotel accommodation vouchers and round-trip airline tickets given to lucky winners. Since 1986, the SITF has grown into Korea’s leading international travel fair, becoming an important avenue for exchange and cooperation within the global tourism industry. Along with Korea’s regional destinations, there are over 300 organizations and businesses from 40 countries participating at this year’s edition of the SITF. For the Philippines, the ROK remains as one of the most vital and valued tourism markets and its participation in major travel and tourism exhibitions such as the SITF will further intensify initiatives to attract Korean travelers to visit the Philippines. END

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June 11, 2026
MWO-OWWA HOLDS ON-THE-SPOT SLOGAN AND POSTER MAKING CONTESTS FOR 31ST MIGRANT WORKERS DAY

Seoul, 7 June 2026 - As part of the pre-celebration activities for the 31st Migrant Workers Day, the Philippine Embassy in Seoul, through the Migrant Workers Office (MWO) and Overseas Workers Welfare Administration (OWWA), successfully conducted the On-the-Spot Slogan Making Contest and On-the-Spot Poster Making Contest on 7 June 2026 at Sentro Rizal, Philippine Embassy in Seoul. Six participants competed in the slogan-making contest, while ten participants showcased their artistic talents in the poster-making contest. The contestants consisted of EPS Workers, Caregivers, and Professors all coming from different parts of Korea like Seoul, Gimpo, Hwaseong, Ansan, and Paju. The program also featured the special Migrant Workers Day messages of Department of Migrant Workers (DMW) Secretary Hans Leo J. Cacdac and OWWA Administrator Patricia Yvonne “PY” Caunan, who recognized the invaluable contributions of OFWs and reaffirmed the government’s commitment to their welfare and protection.

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