The Official Website of the Philippine Embassy in Seoul, Korea

PHILIPPINES AND THE REPUBLIC OF KOREA SIGN FREE TRADE AGREEMENT

[Top photo] President Ferdinand R. Marcos Jr. (standing left) and ROK President Yoon Suk Yeol (standing right) witness the signing of the PH-ROK Free Trade Agreement. [Below photo] Trade Secretary Alfredo Pascual (seated left) and ROK Trade Minister Ahn Duk Geun (seated right) sign the PH-ROK FTA.

10 September 2023, Seoul. The Philippine Embassy in Seoul is pleased to announce the signing of the Philippines - Republic of Korea Free Trade Agreement on 7 September 2023.

Philippine President Ferdinand R. Marcos Jr. and ROK President Yoon Suk Yeol witnessed the signing of the PH-ROK Free Trade Agreement by Trade and Industry Secretary Alfredo Pascual and Trade Minister Ahn Duk Geun on the sidelines of the 43^rd ASEAN Summit and Related Summits in Jakarta, Indonesia and on the occasion of the 24^thASEAN-Korea Summit last 7 September 2023.

The signed PH-ROK Free Trade Agreement augurs well for the deepening economic cooperation between the Philippines and the Republic of Korea and is a testament to our strong trade and investment relations with the ROK, the 5^th largest economy in Asia and the Pacific and the 12^thin the world.

President Marcos said that the trade agreement would further enhance the vibrant relationship and partnership between the Philippines and ROK, expressing optimism that it would go beyond the government-to-government partnership to involve private firms and private sector partners.

President Marcos also told President Yoon that “The signing of the FTA is certainly a very big step in that regard. It can only be a successful arrangement for both our countries. I look forward to the expansion of the trade agreement between your country and mine.”

For his part, President Yoon said that he is eager to elevate the strategic partnership between the Philippines and the Republic of Korea as he emphasized that the PH-ROK FTA “will set another important milestone” in the relationship between the two countries.

“I’m really also eager to elevate our partnership to a strategic partnership as we have proposed the last time. And in this regard, I believe that the Korea-Philippines Free Trade Agreement signed later today will set another important milestone in our bilateral relations,” the ROK President said.

PH Trade Secretary Pascual emphasized that, “For the Philippines, this FTA serves as a clear demonstration of the intent to elevate the current bilateral relations with ROK to a stronger strategic partnership. The Philippines’ engagement with ROK is built on trade through market access, economic cooperation, and investments through collaboration in targeted sectors such as critical minerals and supply chains."

The Philippines and ROK began their negotiations for the FTA in June 2019 and concluded in October 2021. The Philippine Embassy, led by H.E. Ambassador Maria Theresa B. Dizon-De Vega and Commercial Counsellor Jose Ma. Dinsay, attended the ceremony for the formal announcement of the conclusion of the negotiations of the Philippines and ROK Free Trade Agreement (FTA) on 26 October 2021.

The newly signed FTA is expected to remove tariffs on most products from the two countries, opening the door to rapid growth in bilateral trade. It is envisioned to help promote the Philippines as a strong market for smart and sustainable investments, ensure major economic gains with enhanced market access to ROK, and yield strategic investments in priority sectors and industries and in emerging economic areas. ROK is a valued trade and investment partner of the Philippines. In 2022, it ranked fourth in terms of total bilateral trade, valued at USD15.45 billion, and sixth in total approved investments, valued at USD90.62 million. END

AMB. DIZON-DE VEGA DISCUSSES HEALTH CARE INITIATIVE PROGRAMS FOR FILIPINO VETERANS WITH THE ROK MINISTRY OF PATRIOTS AND VETERANS AFFAIRS

Ambassador Ma. Theresa B. Dizon-De Vega with MPVA Director-General Kang Yunjin, ROK Veterans Hospital Director Kim Seulki, and Philippine Defense and Armed Forces Attaché Col. Enriqueto Deocadez Jr. PA at the Philippine Embassy on 30 August 2023.

30 August 2023, Seoul. Ambassador Dizon-De Vega and Defense and Armed Forces Attaché Colonel Enriqueto Deocadez Jr. met with ROK Ministry of Patriots and Veterans Affairs (MPVA) Director-General Kang Yunjin and Veterans Hospital Director Kim Seulki on 30 August 2023.

Both sides discussed veterans affairs cooperation between the Philippines and the Republic of Korea, including jointly working on future programs that will benefit Filipino Veterans in the Philippines such as on healthcare and support for the Philippine Veterans Memorial Hospital.

The Philippine Embassy continues to work with counterparts in the ROK government to honor the 7,420 veterans of the Philippine Expeditionary Forces to Korea (PEFTOK) for their service and sacrifice during the 1950s Korean War. Included in the cooperation and assistance programs are descendants of veterans. The MPVA will work with the Philippine Embassy in Seoul, Office of Defense and Armed Forces Attaché, and the Philippine Veterans Affairs Office (PVAO) on veterans’ support and welfare concerns. END

PH AMBASSADOR BATS FOR GREATER ACCESS TO CLIMATE FUNDING AT 5TH MEETING OF THE GROUP OF FRIENDS OF THE GREEN CLIMATE FUND

35 diplomatic representatives of the Group of Friends of the Green Climate Fund (GCF) in the Republic of Korea (ROK) gathered for its fifth meeting on 24 August 2023 in the GCF Liaison Centre in Seoul.

24 August 2023, Seoul. Philippine Ambassador to the Republic of Korea Theresa Dizon-De Vega attended the fifth Meeting of the Group of Friends of the Green Climate Fund (GCF) and joined the group in welcoming its new Executive Director Mafalda Duarte.

Ambassador De Vega highlighted the Philippines’ climate action commitments to reduce its greenhouse gas emissions by 75% within the current decade. She likewise reaffirmed the Philippine commitment to being an active member of the GCF where the Philippines currently serves as an Alternate Board Member. Ambassador Dizon-De Vega further welcomed the high-level agreements reached at the last GCF board meeting and expressed hope that the High-Level GCF Pledging Session to be held in Bonn, Germany in October would contribute to the realization of GCF’s Strategic Plan and be reflective of renewed commitment to greater access for climate funding.

The meeting was chaired by Pakistan Ambassador Nabeel Munir who recalled the urgency to act collectively in the face of the climate crisis and to support the most vulnerable communities in the Global South. The US as Co-Chair represented by Deputy Chief of Mission Joy Sakurai joined the Chair in acknowledging the strides made by GCF and the finalization of the latest Strategic Plan. Executive Director Duarte likewise shared her priorities for the next period emphasizing her dedication to streamlining access to ensure climate finance reaches those on the frontlines suffering from the impact of the climate crisis. END

PH EMBASSY/ DMW /SSS HOLD TOWN HALL MEETINGS ON PHL-ROK SOCIAL SECURITY AGREEMENT

25 August 2023, Seoul – The Philippine Embassy in Seoul together with the Department of Migrant Workers (DMW) and the Social Security System (SSS) organized a series of Townhall Meetings on the 2019 Philippines – ROK Social Security Agreement (SSA) with the Filipino Community in South Korea from June to August 2023.

The meetings were aimed to widely disseminate information and consult with the Filipino community and OFWs in Korea about the renegotiated and amended SSA which was signed between the Philippines and Korea on 29 November 2019, and ratified by then President Rodrigo R. Duterte in 2020. The amended SSA provides for equal treatment and continued coverage of Filipino workers in South Korea under the National Pension System (NPS) and their eligibility to receive the lump-sum-benefits on the same terms as Korean nationals. In addition, it extends special benefits to OFWs such as totalization of creditable period for purposes of old-age pension, portability of claims, and mutuality of assistance for SSS and NPS members wherever they are.

According to Philippine Ambassador Theresa De Vega, the town hall meetings were organized in line with the ongoing deliberation at the Philippine Senate for concurrence on the bilateral agreement. “The sessions in both online and offline formats were undertaken to ensure the widest possible dissemination of information about the amended agreement,” the Ambassador said. Thus, in order to reach out to as many OFWs as possible, the Embassy, DMW and SSS organized several townhall meetings in partnership with the Filipino community organizations in Korea, starting in Seoul on 04 June, in Incheon/ Gyeonggido on 09 July, in Cheonan/ Asan/ Chungcheong-do on 16 July, and in Busan/ Daegu/ Ulsan/ Gimhae/Geoje/Gyeongsangnam-do on 23 July.

The culminating Town Hall was held at the Philippine Embassy on 13 August 2023 and live-streamed on FB. Officials from the Social Security System were also present which include Social Security Commissioners Anita B. Quitain and Jose C. Julio, SSS Executive Vice President Voltaire Agas, SSS Department Manager Francis Paolo Lazaro, SSS Service Representative Lester Paul Mata, and DMW Assistant Secretary Mario T. Zinampan who joined online.

SSC Commissioner Quitain emphasized the importance of continued social security coverage of OFWs and their families, while EVP Agas highlighted the advantages of the 2019 SSA which was actually renegotiated in response to the clamor from and for the benefit of OFWs in Korea. He emphasized that the amended SSA does not only guarantee continued protection and special lump-sum refund benefits for Filipinos under the NPS, but more importantly, it also extends totalization, portability, and mutual administrative assistance benefits for OFWs.

In his presentation, Mr. Lazaro expounded on each of the SSA provisions, and responded to the frequently asked questions from OFWs to clarify common misunderstanding or misinformation on the agreement. The SSS emphasized that the SSA does not allow any transfer of funds between the SSS and NPS, and that existing procedures on claims will remain. In closing, Asst. Secretary Zinampan urged the Filipino community in South Korea to lend support to the efforts of the government to strengthen and expand the social security protection of OFWs by ushering the entry into force of the PH-ROK bilateral agreement on social security.

After the discussion on the SSA, SSS representative Mata made a presentation on the membership benefits of OFWs and assisted the OFWs in their online registration and other membership record concerns.

For more information, the copy of the SSA may be requested from This email address is being protected from spambots. You need JavaScript enabled to view it. and the public may also refer to the Frequently Asked Questions on the SSA available at http://www.philembassy-seoul.com/ph-rok-ssa.asp -END.

Series of Townhall Meetings on the 2019 PH-ROK Social Security Agreement in Seoul, Incheon/ Gyeonggido, Cheonan/ Asan, and Busan/ Daegu/ Ulsan/ Gimhae held from June to August 2023 with PE-Seoul, DMW, SSS, and the Filipino Community and OFWs in Korea