PHILIPPINE EMBASSY PARTICIPATES IN THE DIGITAL FINANCE ROUNDTABLE OF THE KOREA DEVELOPMENT INSTITUTE-GLOBAL KNOWLEDGE EXCHANGE AND DEVELOPMENT CENTER (KDI-GKEDC)
Top photo: Mr. Dong Soo Kang, Executive Director of the GKEDC joins the participants from ASEAN Member States in Seoul in a group photo. Below photo (left): Deputy Chief of Mission and Consul General Romulo Victor M. Israel Jr. (right) speaks with Executive Director Kang. Below photo (right): DCM Israel Jr. with Alex KY Jo, Co-founder & Group COO Paywatch Korea and Paywatch Indonesia.
24 March 2025, Seoul. The Korea Development Institute – Global Knowledge Exchange and Development Center (KDI-GKEDC) held a Digital Finance Roundtable on 19 March 2025 at the Rose of Sharon Hall, 2nd Floor, Education Building of the GKEDC. The event was participated in by representatives of diplomatic missions from ASEAN Member States in Seoul. Deputy Chief of Mission and Consul General Romulo Victor M. Israel Jr. and Third Secretary and Vice Consul Reisha L. Olavario represented the Philippine Embassy in the roundtable.
Executive Director Dong Soo Kang in his opening remarks shared that the KDI-GKEDC community event with ASEAN Embassies serves as a platform to foster stronger economic, social and technological collaboration between the Republic of Korea and the ASEAN. The Digital Finance Roundtable provides an opportunity to expand cooperation by leveraging ROK’s fintech sector and ASEAN’s rapidly evolving financial landscape to drive financial inclusion, economic growth and innovation. ROK has made significant strides in digital banking, fintech and block chain technology while ASEAN has digital transformation and inclusive finance initiatives. This collaboration will serve as a catalyst for mutual prosperity.
The roundtable featured GKED Talks on Digital Finance. Mr. Alex KY Jo, Co-founder & Group COO of Paywatch Korea and Paywatch Indonesia presented on Paywatch, a salary advance payment service that offers employees early access to their wages through their mobile digital app. Its services are currently available in Malaysia, Republic of Korea, Indonesia, Philippines, and Hong Kong. The second speaker, Mr. Back-gyu Sung, Team Manager of Fintech Center Korea, spoke on Financial Technology as a major driver of innovation and accelerating digitalization in the financial market and the ROK’s Financial Regulatory Sandbox Policy.
The Philippine Embassy in Seoul will continue to collaborate with the KDI-GKEDC in pursuing projects on inclusive growth and socio-economic development. END
PHILIPPINES AND KOREA TO BOOST ECONOMIC, TRADE, AND ENERGY COOPERATION
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.
PHL EMBASSY HOSTS GENERAL ASSEMBLIES OF PHILIPPINE ENGINEERS’ ASSOCIATION IN KOREA AND PHILIPPINE INSTITUTE OF CIVIL ENGINEERS - SOUTH KOREA CHAPTER
Seoul, South Korea – The Philippine Embassy in Seoul hosted at the Sentro Rizal Hall, the General Assemblies of two major Filipino engineering organizations in South Korea, the Philippine Philippine Engineers’ Association in Korea (PEAK) on 23 February 2025 led by its President Engr. Ma. Ivy Flaminiano; and the Philippine Institute of Civil Engineers – South Korea Chapter (PICE-South Korea) on 16 March 2025 led by its Vice President Engr. Carlo Elipse representing the organization’s President Engr. Julius Marvin Flores.
In her opening remarks, Ambassador Theresa Dizon-De Vega emphasized the importance of strengthening membership campaigns and fostering collaboration among engineering associations and other professional groups within the Filipino community in Korea. She noted that Filipino engineers form a significant sector of the over 70,000-strong Filipino population in South Korea, playing a key role in the country’s workforce.
During the PICE event, Ambassador Dizon-De Vega also administered the oath of office for the new officers of the South Korea chapter. Also present at the events were Vice Consul Jill De Dumo-Cornista who provided updates on consular services, and MWO-Seoul Officer-in-Charge Mr. Manolo Barotillo who discussed recent labor trends and addressed various inquiries affecting Filipino workers in South Korea.
The Philippine Embassy in Seoul remains committed to supporting Filipino professionals in Korea through engagements, policy updates, and continuous collaboration with key stakeholders. END
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