PHL reaffirms desire for deeper economic ties with South Korea

The Philippine government has reaffirmed its desire to deepen its economic ties with South Korea, the Department of Finance (DOF) said Tuesday.

The reaffirmation was done by Finance Secretary Carlos Dominguez III during a recently held meeting with officials of the Korea International Cooperation Agency (KOICA).

"We want to express how appreciative we are of the assistance we are receiving from the Korean people through the Korean government," Dominguez told the Korean delegation led by KOICA president Lee Mikyung.

"I hope that we can expand our cooperation at this time and for the coming future."

Domingugez also thanked South Korea for supporting the Philippines' efforts to enhance the use of digital technology in improving tax administration through its support for the electronic invoicing and receipts system of the Bureau of Internal Revenue (BIR).

Lee, for his part, said that with South Korea’s assistance to ASEAN in 2017 almost tripling by 2022, the Philippines can also expect the volume of support from his country to also increase during the period.

The KOICA chief said the Philippines should expect "more close and deepened cooperation," especially as 2019 marks the 70th anniversary of the diplomatic relations between the two countries.

In light of South Korean President Moon Jae-in’s policy centered on “the three Ps—people, peace and prosperity,” and his recognition of the strategic importance of ASEAN in the global economy, Lee said his government has pursued several initiatives on education, information and communications technology (ICT), and inclusive development, among other programs, that the Philippines could tap to help achieve its goal of economic inclusion for all Filipinos.

These include the ASEAN Higher Education Initiative, which involve the exchange of college students between South Korea and the Philippines, and South Korea’s highly developed ICT programs to assist the Philippines in enhancing transparency in governance and reforming its tax system.

Also at the meeting were South Korean Ambassador to the Philippines Han Dongman; Kim Junmo, Director, Southeast Asia Department II, KOICA; Kim Gyungah, Manager, Southeast Asia Department II, KOICA; Lee Seungchul, Program Officer, Office of the President, KOICA;  Shin Myung Seop, Country Director, KOICA Philippines; Lee Sangback, Deputy Country Director, KOICA Philippines;  Francis Afable, Program Manager, KOICA Philippines; and  Shin Wookjin, Program Officer, KOICA Philippines.

The Philippine officials at the meeting included Finance Undersecretary Mark Dennis Joven, Foreign Affairs Assistant Secretary Meynardo Montealegre, and NEDA Assistant Secretary Roderick Planta. —KBK, GMA News