President Rodrigo Duterte and South Korean Ambassador to the Philippines Han Dong-Man discussed ways to strengthen investment cooperation between Manila and Seoul, Malacañang said on Tuesday.
The plan was raised when Han paid a courtesy call on Duterte at the Palace‘s Music Room on Monday.
“Ambassador Han first presented his Letter of Credence to President Duterte on January 17, 2018, introducing his plan for the Philippines geared towards boosting investments,” the Palace said in a press statement.
“Recently, the South Korean envoy pitched for the creation of a ‘Korean town’ in Malate, Manila, in coordination with the city government,” it added.
Duterte and Han’s meeting came prior to the President’s scheduled visit to South Korea to participate in the commemorative summit between Southeast Asian leaders and South Korean President Moon Jae-in in Busan from November 25 to 27.
During a courtesy call on Duterte, Han was accompanied by Minister-Counselors Kim Jang-Hyun and Kim Sunyoung; Kepco Philippines Holdings Inc. president and chief executive officer Kim Jung-In; and Korean Air regional manager Cheol Lee.
Also present during Duterte’s meeting with Han were Department of Foreign Affairs (DFA) Secretary Teodoro Locsin Jr.; Undersecretaries Manuel Antonio (Transportation) and Benito Bengzon Jr. (Tourism); and Foreign Affairs Assistant Secretaries Meynardo Montealegre and Junever Mahilum-West.
DFA-Association of Southeast Asian Nations Affairs Office director Reginald Bernabe and Asia and Pacific Affairs Office acting director Johann Veronica Andal also graced the event.
South Korea is the fourth largest trading partner of the Philippines, with bilateral trade increasing by 9.4 percent in 2018 to USD15.6 billion.
Han has been urging South Korean firms to invest in the Philippines, in a bid to spur economic growth in the country.
In October, Han also offered to create a “Korean town” in Malate, Manila when he met with Manila Mayor Francisco “Isko Moreno” Domagoso.