Philippine Ambassador to the ROK Theresa Dizon-De Vega and Ministry of Trade, Industry, and Energy Director General Dr. Kim Jongchul. The Director General expressed his appreciation for the dynamic and vibrant trade relations between the Philippines and the ROK during Ambassador Dizon-De Vega’s tenure in South Korea.
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
The Philippines and the Republic of Korea agreed to boost economic, trade and energy cooperation by furthering close consultations between the Philippine Embassy in Seoul and officials from the ROK Ministry of Trade, Industry, and Energy. Joining the Ambassador and the Director General during the call are Third Secretary and Vice Consul Reisha Olavario of the Political and Economic Section, Commercial Counselor Charmaigne Mignon S. Yalong, Senior Trade Assistant Aija Jeon, and MOTIE Deputy Director Kang Hong Koo. 