GOVPH

Philippine International Tax and Investment Roadshow held in Korea

12 April 2024, Seoul. The Korea leg of the of the 2024 International Tax and Investment Roadshow was held from 25-28 March 2024 in Seoul.

The activities were conducted as part of the 2024 International Tax and Investment Roadshow, co-organized by the DTI, PTIC-Seoul, Asian Consulting Group (ACG), Banco de Oro (BDO), and Unibank Group.

The lead resource person for the roadshow Mr. Ramon Abrea, Chief Tax Adviser of ACG, made presentations on the Philippines as an investment destination, highlighting the country’s positive macroeconomic performance, an overview of PH’s investment grade credit ratings, emerging industries, salient features of the Ease of Doing Business Act (EODB), tax policy reforms such as the Comprehensive Tax Reform Program (CTRP), the Ease of Paying Taxes Act (EOPT), the Strategic Investment Priority Plan (SIPP) as well as fiscal and non-fiscal incentives for foreign investors. BDO likewise contributed presentations on the key economic indicators for the country.

Tax and investment presentations were held at the ASEAN Korea Centre on 26 March 2024 with participants coming from various companies with investments in the Philippines, Korean locators, and companies with ongoing and future projects mainly in the E&C sector.  A similar presentation was made before the CEOs of member companies of the Korea Resource Recycling Confederation or KRCG. KRCG members including those involved in waste management, waste-to-energy, upcycling, and related green technology.

Philippine Ambassador Theresa Dizon-de Vega and PTIC Commercial Counsellor Jose Ma. Dinsay were likewise on hand to introduce the major elements of the recently signed PH-ROK Free Trade Agreement and possible investment areas.

PTIC-Seoul and ACG likewise met with specific industry clusters to explain the taxation and incentives system for foreign investors in the Philippines. END

PHILIPPINE EMBASSY CALLS ON INCHEON INTERNATIONAL AIRPORT CORPORATION OFFICIALS

11 April 2024, Incheon – Philippine Ambassador to the Republic of Korea Theresa Dizon-De Vega called on Incheon International Airport Corporation (IIAC) CEO Lee Hag Jae on 11 April 2024 at the IIAC headquarters in Incheon, Republic of Korea. 

Ambassador Dizon-De Vega congratulated IIAC CEO Lee for winning the bid for the Manila Ninoy Aquino International Airport Development and Operation PPP Project (Private Investment Project) as part of a consortium with San Miguel Corporation-SAP and local financial investors in the Philippines. A development and operation project that will take place over 25 years until 2049, the project is expected to massively modernize and transform the Philippines’ main International Airport. 

The Ambassador conveyed that the Philippine government recognizes the need for experts to work on this massive undertaking and looks forward to IIAC’s expertise, especially in pursuing terminal expansion and airport operation optimization. The airport modernization is expected to raise airport capacity to 62 million passengers annually, from its current 35 million. It is likewise expected to contribute to improving global air traffic once completed. 

Ambassador Dizon-De Vega likewise conveyed that the Philippine airport modernization is a priority project of Philippine President Ferdinand Marcos, Jr., under the administration’s “Build Better, More”! Program. 

For his part, CEO Lee welcomed the Ambassador’s warm words and looked forward to working with the Philippine government, private sector partners, and the Embassy on this project. CEO Lee assured that the IIAC will send its best technical experts to the Philippines to work on the airport modernization project. 

IIAC CEO Lee was joined by Mr. Chaiwoo Lee, Executive Director of Overseas Business Group, and Ms. HyesongLim, Senior Manager of Overseas Business Group. Ambassador Dizon-De Vega was accompanied by Third Secretary and Vice Consul Reisha Olavario. 

The Incheon International Airport Corporation (IIAC) was established to efficiently build, manage, and operate the Incheon International Airport. A world-class airport corporation, the IIAC streamlines air transportation and also provides technical expertise in building and managing airports overseas. END

PHILIPPINE EMBASSY SUPPORTS PHILIPPINE WOMEN’S NATIONAL FOOTBALL TEAM IN INTERNATIONAL FRIENDLIES AGAINST SOUTH KOREA

8 April 2024, Icheon – The Philippine Embassy proudly supported the Philippine Women's National Football Team “Filipinas” as they faced the Korean National Women’s Football Team “Taeguk Ladies” over two international friendly matches on 5 and 8 April 2024 at the Icheon City Stadium in Icheon, Gyeonggi-do. 

Hosted by the Korean Football Association (KFA), the international friendlies symbolize strong people-to-people ties between the Philippines and the Republic of Korea, especially in sports. Sports cooperation through friendly matches in various fields will also feature in the celebration of  Philippines and the Republic of Korea’s 75 years of diplomatic relations this 2024.

The team was joined by Philippine Women's National Football Team Manager Jefferson Cheng and football coach Mark Torcaso. Although the Filipinas lost to the Republic of Korea, with scores of 3-0 and 2-1 during the friendlies, the Philippine Women's National Football Team gave the Taeguk Ladies two very tough games. Philippines defender Angela Beard scored the Philippines’ first and only goal during the friendlies at the 8 April 2024 game. The friendlies are necessary steps to bridge the gap with some of Asia’s top football teams. South Korea currently sits at No. 20 on the FIFA ranking, 19 spots above the Philippines, at No. 39.

Third Secretary and Vice Consul Reisha Olavario watched the first game alongside Korea Football Association President Chung Mong-gyu, Icheon City Mayor Kim Kyung-hee, Philippine Women's National Football Team Manager Jefferson Cheng, Philippine Women's National Football Team administrative and support member Kevin Dee, and other officials of the KFA. Third Secretary and Vice Consul Olavario congratulated the Filipinas on the pitch and conveyed the Embassy’s support and appreciation for their exceptional talent, performance, and sportsmanship during the KFA-hosted friendlies.

After the games, Ambassador Theresa Dizon-De Vega met with the members, coaches, and administrative-management support of the Philippine Women's National Football Team in Seoul for coffee and treats, in appreciation for the Filipinas' participation in the PH-ROK international football friendlies. 

The Philippine Embassy in Seoul wishes the Philippine Women's National Football Team success as they prepare for the Asian Cup. The Philippine Embassy will continue to support Filipino athletes and talents honing their skills in the Republic of Korea. END