Senate adopts resolution to recognize PH-South Korea friendship, cooperation
IN celebration of the 75th anniversary of the diplomatic relations between the Republic of Korea and the Philippines, the Senate adopted a resolution on Monday recognizing the friendship and cooperation between the two countries.
Sen. Win Gatchalian introduced Senate Resolution No. 946 with all senators made co-authors of the resolution.
Over the years, the Philippines has been an active supporter in the inter-Korean peace process and reconciliation efforts. The Philippines was the fifth country to recognize the Republic of Korea since its inauguration in 1949.
The Philippines deployed 7,420 soldiers to South Korea during the war in the 1950s, further cementing its relationship with the latter.
In turn, South Korea has become a significant defense and security partner for the Philippines, playing a key role in the modernization of the Armed Forces of the Philippines (AFP) supplying essential military equipment and support.
South Korea’s contribution to the Philippines has reached $2.1 billion as of 2020. It ranks fourth in terms of bilateral trade with the Philippines with $15.45 billion and sixth in total approved investments at $90.62 million in 2022.
Both countries had signed a free trade agreement (FTA) on September 7, 2023.
“The Philippines and South Korea have launched new platforms for dialogue on harnessing the blue economy as well as in other areas of cooperation on key marine and maritime issues, all of which are paramount considerations for the Philippines as an archipelagic state,” the resolution said.
The close relationship between the two countries is demonstrated by the over 62,000 Filipinos living in South Korea as of 2020.
South Korea is also the Philippines’ top market of foreign tourists’ arrivals, accounting for 1.44 million or 26.41 percent of the total foreign tourists arrivals in the country as of last year.
According to the resolution, it is the hope of the Philippines to further its bilateral relations and deepen its diplomatic ties with South Korea through continuous and strategic partnership on key and mutually beneficial areas of cooperation towards economic progress and development.
