By Honorary Reporter Wendy Palomo from the Philippines

Photos, videos = Wendy Palomo

Nine Korean companies on Nov. 25 paid a courtesy call on Philippine President Rodrigo Duterte in Busan.

Trade and Industry Secretary Ramon M. Lopez introduced the heads of Dae Il Corp., Dohwa, Pan Co. Ltd., LG CNS, Korea Overseas Investment and Urban Development, JS Development, Developer City Company, Hyundai E & C and Daesang.

Duterte is attending the ASEAN (Association of Southeast Asian Nations)-ROK (Republic of Korea) Commemorative Summit from Nov. 26-27 in Busan. He also had bilateral talks with President Moon Jae-in and attended a welcoming dinner for ASEAN heads of state. This is Duterte's second trip to Korea following his first on an official visit last year.

The courtesy call was an important side event to bolster economic ties between the two countries. The companies are in the fields of waste management, infrastructure, manufacturing, electric vehicles and transportation systems.

Duterte was joined by Philippine Ambassador to Korea Noe A. Wong and members of the Philippine cabinet. The courtesy call was a closed-door meeting between Duterte and the CEOs. Jose Maria Dinsay, commercial counselor at the Philippine Trade and Investment Center-Seoul who helped arrange this meeting, said the companies are highly interested to set up businesses in the Philippines. Several of the companies are doing business or are in the process of setting up operations in the country. The executives acknowledged the Philippines' contribution to Korea especially during the 1960s, when Philippine engineers built the first sports gym in Korea. They said they were impressed with the Philippines' economic growth and wished for Duterte to have a successful visit in Busan.

The Philippine president assured the companies that his government will protect their businesses through ways such as shortening the approval process and removing corruption in business dealings. He said he wants to see all projects implemented before his term ends in June 2022.

This year marks the 70th anniversary of Korean-Philippine diplomatic ties. In 1949, the Philippines became the fifth country and the first in Asia to form such relations with Korea.

chaey0726@korea.kr

*This article is written by a Korea.net Honorary Reporter. Our group of Honorary Reporters are from all around the world, and they share with Korea.net their love and passion for all things Korean.