South Korea-Philippine business forum opens March 22

As a result of bilateral talks between President Benigno Aquino III and South Korean President Lee Myung-bak last November, the Korea Trade-Investment Promotion Agency (Kotra) is spearheading the biggest-ever Philippines-Korea Development Business Partnership Forum in Manila on March 22.   Bilateral relations between South Korea and the Philippines have taken great strides, Johwan Choi, Kotra Manila director-general and Korean Embassy trade commissioner, said in a statement Tuesday.   “Trade volume last year exceeded $10 billion. Korea is now the Philippines’ fifth largest trading partner and third largest investor,” said Choi.   “Also, the Philippines is Korea’s third most attractive investment destination in South Asia,” he added.   “This forum is the biggest-ever that Kotra Manila has organized since it was established in 1962. It will serve as platform for adopting plans to make this partnership sustainable," according to the Korean official.   South Korean and Philippine officials will present how the two countries can develop partnerships in infrastructure, agriculture, and natural resources, and discuss the Philippines’ current investment environment.   South Korean representatives to the forum are Ambassador to the Philippines Hye-Min Lee, Kotra executive vice president Sung-Keun Oh, Trade Deputy Minister Jin-Hyun Han, International Cooperation Bureau director-general Chae-Ho Cho, Knowledge Economy former Secretary Dr. Joong-Kyung Choi, and Financial News Inc. chair Jae-Ho Jeon.   Speakers from the Philippines include Senator Edgardo Angara, National Economic Development Authority  director-general Cayetano Paderanga Jr., Public Works and Highways Secretary Rogelio Singson, Trade Undersecretary Cristino Panlilio, Agriculture Undersecretary Bernadette Puyat, and Philippine Agricultural Development and Commercial Corporation president Marriz Agbon.   Kotra, South Korea's state investment and trade agency, was established in 1962 to bolster the Korean economy through trade. In the 1960s and 1970s, it started developing overseas markets and served as the driving force in increasing Korea’s exports. — VS, GMA News