17 November 2022, SEOUL – Philippine Ambassador to the Republic of Korea Theresa Dizon-De Vega participated in the Korea Enterprises Federation (KEF) Business Roundtable with ASEAN Ambassadors at the Four Seasons Hotel in Seoul on 17 October 2022. The meeting discussed ways to enhance economic cooperation between ROK and ASEAN member states.

KEF Chairman Sohn Kyung-shik highlighted that a number of Korean companies doing business in ASEAN have active investments in high-technology development and service industries.

Ambassador Dizon-De Vega briefed the members of the KEF on the 8-point socio-economic agenda of the Marcos administration, reforms in the Philippine government to promote ease of doing business, and expressed the hope to have more Korean businesses and investors who will seek partnerships with the Philippines. Ambassador Dizon-De Vega likewise spoke of the potential for more economic engagement with the conclusion of negotiations for a Philippines Korea Free Trade Agreement.

Ambassador Dizon-De Vega likewise conveyed that there are more opportunities for the Philippines to host the different manufacturing companies of Korea, especially sectors where Korea is a major global player and where operations expansion to an ideal investment destination such as the Philippines can make these companies more competitive through international expansion.

KEF is the leading organization representing Korean enterprises. Since its establishment in 1970s up to present, KEF has expanded and continues to play a significant role to promote business investment through reform of regulations on new industries as well as in increasing policy advocacy in business activities, regulatory reform, corporate governance, taxation and other fields for Korean enterprises. END