PIA Press Release
2008/05/12
by A. Lumaque
Roxas City (12 May) -- A good business climate and the continuing look up in the trade and diplomatic relations of the Philippines and Korea has resulted in the surge of Korean investments in the country.
Republic of Korea's Incheon Metropolitan City Mayor Ahn Sang Soo informed President Gloria Macapagal-Arroyo that the number of Korean investors in the country has vaulted to more than 100,000 this year from 30,000 in 2003 during his visit to Malacañang last May 9.
Responding to the information of Mayor Ahn on Korean investments in the Philippines, the President expressed gratitude on Korea's continuing confidence in the Philippines and the world-class Filipino workforce.
The President also thanked the visiting mayor for Korea's investments in the country which have led to the employment of thousands of Filipinos.
During his Malacañang visit, Mayor Ahn also signed with Albay Gov. Joey Salceda the twinning agreement between Albay and Incheon Metropolitan City.
Furthermore, the Korean city official also inked a sisterhood agreement with Manila City to explore and open possible tourism and business opportunities between Incheon and the Philippine.
The Korean official told the President that South Koreans are grateful to the Philippines' support to his country during the Korean War in the 1950's.
He added that Incheon is keen on hiring Filipino construction as well as IT service workers and English teachers. (PIA)
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