SEOUL, 31 March 2015 – A Philippine Retirement Authority (PRA) delegation, led by its General Manager and CEO Mr. Veredigno P. Atienza, called on Philippine Ambassador to Korea Raul S. Hernandez to inform him of the PRA’s successful participation in the 29th Korea Emigration and Investment Fair held on 28-29 March 2015 at the COEX Convention Center.

Joining 40 exhibitors from five countries, the Philippine booth attracted a steady stream of visitors due to the high level of interest among Koreans in the various retirement packages being offered by the PRA, according to GM Atienza. Ambassador Hernandez assured the delegation of the Philippine Embassy’s continued support in assisting the PRA in promoting the Philippines as a retirement haven and tourist destination in the Korean market. Since its founding in 1985, the state-owned and -operated company has pushed its promotion activities under the aegis of the Department of Tourism of the Philippines as an attractive retirement and investment destination for foreign nationals with the end view of accelerating the country’s socio-economic development. GM Atienza said foreign retirees have a bigger impact on the Philippine economy than tourists, whose every arrival is said to create one job. In the case of retirees, with their overall knock-on effect, just one enrolee in the PRA program can create 120 jobs. To date, a net total of 35,000 foreign nationals from more than 100 countries have enrolled for the Special Resident Retiree’s Visa (SRRV). In terms of country of origin, Koreans accounted for 8,000 of this total at second place, following mainland Chinese, who numbered 16,000. Popular destinations for Korean retirees are Baguio, Cebu, Subic and Clark. –END–