The Official Website of the Philippine Embassy in Seoul, Korea

Philippine International Tax and Investment Roadshow held in Korea

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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

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PHILIPPINE EMBASSY CALLS ON INCHEON INTERNATIONAL AIRPORT CORPORATION OFFICIALS

Leftmost and top right: Ambassador Theresa Dizon De Vega and Incheon International Airport Corporation (IIAC) CEO Lee Hag Jae had a productive meeting on Philippine Airport Modernization on 11 April 2024. Right (below): IIAC CEO Lee was joined by Mr. Chaiwoo Lee, Executive Director of Overseas Business Group and Ms. Hyesong Lim, Senior Manager in Overseas Business Group. Ambassador Dizon-De Vega was accompanied by Third Secretary and Vice Consul Reisha Olavario.

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

Top: The Philippine Women's National Football Team “Filipinas” with Third Secretary and Vice Consul Reisha Olavario after their 5 April 2024 football friendly at the Icheon City Stadium in Icheon, Gyeonggi-do. Below: The Philippine Women's National Football Team was commended by KFA officials on their strong level of play on the field.

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

Top left: Korea Football Association President Chung Mong-gyu, Icheon City Mayor Kim Kyung-hee, Philippine Women's National Football Team Manager Jefferson Cheng and Third Secretary and Vice Consul Reisha Olavario watching the 1^st game. Bottom leftmost: On behalf of Ambassador Theresa Dizon-De Vega, Third Secretary and Vice Consul Olavario conveyed PH Embassy support for Filipinas. Center and rightmost: After two excruciating games, the Philippine Women’s National Football Team enjoyed coffee & snacks with Ambassador Theresa Dizon-De Vega in Seoul.

PHILIPPINES CALLS FOR ENHANCED SECURITY COOPERATION AT THE UNITED NATIONS COMMAND MEMBER STATES AMBASSADOR’S MEETING

Top: The meeting acknowledges the presence of Amb. Ma. Theresa Dizon-De Vega. Below: Ambassador Dizon-De Vega delivering her intervention. The Ambassador highlighted PH’s robust defense cooperation with the ROK and UNC, as well as other like-minded nations present in the meeting.

5 April 2024, Seoul – Philippine Ambassador to the Republic of Korea H.E. Theresa Dizon-De Vega joined ROK Defense Minister Shin Won-sik, ROK MOFA Deputy Minister Chung Byung-won, and fellow ambassadors of 17 United Nations Command (UNC) member states on 5 April 2024 at the Ministry of Defense Convention Center in Seoul to discuss ways to further enhance security cooperation and promote peace and stability on the Korean Peninsula and the rest of the region amid rising geopolitical tensions. The meeting was also attended by UNC Deputy Commander Lt. Gen Derek Macaulay and H.E. Ban Ki-Moon, President and Chair of Global Green Growth Institute (GGGI) and 8th Secretary General of the UN General Assembly.

During the meeting, United Nations Command Member States conveyed that peace and stability on the Korean Peninsula are integral to global peace and pledged to closely coordinate with the Republic of Korea to uphold shared goals. UNC member states also conveyed their commitment to strengthening defense cooperation and partnership with the ROK and active participation in the UN Command Member States mechanisms.

Ambassador Dizon-De Vega conveyed practical examples of PH cooperation with the UNC, including sending participants from the Philippine military to UNC-led joint exercises in 2023, the Philippines’ active participation in conferences on allied areas of cooperation and exchange such as military logistics, and conveyed PH intent to continue its active participation in regular UN Command meetings. The Philippines also expressed serious concern for DPRK’s nuclear ambitions, and called for the complete, verifiable, and irreversible denuclearization of the DPRK, stressing the need to abide by international law and UNSC sanctions.

The Ambassador was joined by Third Secretary and Vice Consul Reisha Olavario and Defense and Armed Forces Attaché Col. Don Templonuevo INF (GSC) PA.

The UN Command was established in July 1950 under a UN mandate to support ROK against DPRK aggression. Heeding the call of the UN, the Philippines sent 7,420 troops under the Philippine Expeditionary Forces to Korea (PEFTOK) to help South Korea fight for freedom. At present, the UN Command has been overseeing the armistice that halted the Korean War from 1950-1953. Current members of the UNC include the United States, Britain, Canada, Turkey, Australia, the Philippines, Thailand, the Netherlands, Colombia, Greece, New Zealand, Belgium, France, South Africa, Norway, Denmark and Italy. END

Top: UNC Member States Ambassador Meeting, Ambassador Dizon-De Vega (2^nd row, fourth from right) is joined ROK Defense Minister Shin Won-shin, ROK MOFA Deputy Minister Chung Byung-Won, and fellow ambassadors of 17 United Nations Command (UNC) member states on 5 April 2024 at the Ministry of Defense Convention Center in Seoul. Below: (leftmost) Amb. Dizon-De Vega is acknowledged during the meeting, (center) with H.E. Ban Ki-Moon, President & Chair of the GGGI and 8^th UN Secretary General, (right) Ambassador De Vega exchanging pleasantries with ROK Defense Minister Shin Won-sik.