Republic of Korea President Yoon Suk Yeol’s historic first visit to the Philippines solidifies the country’s bilateral relations with the East Asian economy, Senator Win Gatchalian said.
“We are deeply honored by President Yoon’s first visit to the country as this affirms the good bilateral relations that we have enjoyed over the past 75 years with South Korea. We are confident that the visit will serve to further strengthen our ties moving forward,” Gatchalian said. President Yoon is undertaking a 2-day state visit on October 6-7 to celebrate the 75th anniversary of the two countries’ bilateral relations.
Gatchalian, who chairs the Philippine-South Korea Parliamentary Friendship Association in the Philippine Senate, had earlier co-authored and sponsored a resolution recognizing the enduring amity and cooperation between the two countries.
“I have witnessed firsthand the remarkable growth of our bilateral ties and for sure, the bonds between our countries are not merely founded on formal agreements or shared interests, but on a profound brotherhood that transcends time and generations,” Gatchalian emphasized.
The total Philippines-South Korea trade reached US$10 billion in 2023, with South Korea ranking as the Philippines 4th largest trading partner. In 2022, South Korea was the Philippines’ 7th largest export market out of 211 countries. Also in 2022, South Korea was the Philippines’ fourth largest import supplier. The Philippines and Republic of Korea signed the Philippines-Korea Free Trade Agreement (FTA) on the sidelines of the ASEAN Summit in Jakarta, Indonesia in September 2023.
The senator said the depth of the two countries’ bilateral relations is manifested in various ways. “Sa bawat Korean company na nagbukas ng pintuan para sa trabaho sa ating mga kababayan, sa bawat estudyanteng Pilipino na natututo sa South Korea, at sa bawat pamilyang nagkakaroon ng mas magandang buhay dahil sa ating ugnayan, nararamdaman natin ang tunay na halaga ng ating pagkakaibigan,” he said.
President Yoon is scheduled to meet with President Marcos on October 7.
