 Jejomar Binay |
The Philippines hopes to further strengthen its relationship with Korea, through increased trade and investments, according to Philippine Vice President Jejomar Binay.
``Koreans have a lot of investments in the Philippines. But I hope the bilateral relationship will become more vibrant (in the future) with more trade, investments and people-to-people exchanges,’’ Binay told The Korea Times in an interview at the Philippine Embassy in Yongsan, Tuesday evening.
He is currently in Korea on a four-day trip that includes meeting Prime Minister Chung Un-chan and Foreign Minister Yu Myung-hwan. Binay, who is chairman of the Asia-Pacific Regional Scout Committee, will also be attending the 27th Asia-Pacific Regional Scout Jamboree in Suncheon, South Jeolla Province.
The Philippines and Korea established diplomatic ties in 1949. Korea is the third largest source of foreign direct investment in the Philippines, with $3 billion as of the end of 2009. Among the biggest investors are Hanjin Heavy Industries and Construction, KEPCO, Samsung Electronics and LG.
Trade between the two countries is around $5.5 billion. Philippine exports to Korea include copper products, electronic parts and fresh fruit such as bananas, pineapples and mangoes. Korean exports to the Philippines include automobiles, fabrics, textiles, petroleum, gas and oil.
With more investments and trade, Binay hopes more jobs will be created for Filipinos. Job creation is one of the priorities outlined by President Benigno Aquino III.
``Our administration’s goal is to create more jobs and employment opportunities. We want to give Filipinos a chance to choose if they want to work abroad or in the Philippines. The lack of jobs in the country means that going abroad for employment is the only solution to have a better life,’’ he said.
Prior to being elected as the country’s vice president, Binay was mayor of Makati City in metropolitan Manila for 21 years. Makati, considered the financial district of the country, has also been home to an unofficial Koreatown for the past few years.
``In Makati, there is a small area which is home to many Koreans. Today Koreans are also the number one tourist arrivals in the Philippines for the last three years, even more than the Japanese,’’ he said.
Binay, who has been to Korea six times before, has maintained a good relationship with Foreign Minister Yu Myung-hwan during his stint as Korean Ambassador to the Philippines. The Korean Embassy was previously located in Makati.
Binay also met with leaders of the Filipino community, Tuesday evening, to find out any problems and concerns they have while living and working in Korea.
``The government wants to intensify assistance for overseas Filipino workers around the world and their families back home. The government will protect the Filipino workers because they help prop up our economy,’’ he said.
There are currently around 46,738 Filipinos living and working in Korea, out of an estimated 9 million Filipino migrants all over the world. Money sent by overseas Filipino workers to the Philippines reached $17.35 billion in 2009.
During the meeting, several Filipino community leaders raised their problems about the Philippine government housing program, such as overpriced housing projects, substandard materials used for houses, high interest payments and lack of financing. In response, Binay promised to address these problems when he returns to the Philippines.
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