31 August 2010 -- South Korean Minister for Foreign Affairs and Trade Yu Myung-Hwan concluded a four-day official visit to the Philippines that saw both governments affirming their commitment to enhancing cooperation in various fields.
During his stay from August 26 to 29, Foreign Minister Yu paid courtesy calls on President Benigno S. Aquino III, Senate President Juan Ponce Enrile, Foreign Affairs Secretary Alberto G. Romulo, Interior and Local Govenrment Secretary Jesse Robredo, and other government and business officials. The meetings recognized the special friendship between the Philippines and South Korea, dating back to the Philippines' recognition of the latter in 1949 and the deployment of the Philippine Expeditionary Forces to Korea (PEFTOK) in September 1950, to join the United Natuions-led coalition in the defense of South Korea.The 60th anniversary of the Korean War is being observed this year.
During his meeting with President Aquino, Minister Yu noted South Korean investors' continued confidence in the Philippines, citing ventures in the fields of shipbuilding, energy, electronics, manufacturing, and tourism. The Minister appreciated President Aquino's commitment to improve the country's governance and the rule of law, to cut red tape and to improve the business and investment environment.
On August 27, a bilateral meeting between Secretary Romulo and Minister Yu and their respective delegations was held to review the state of relations, to exchange views on international and regional developments, and to consider progress on cooperative activities in trade, investments, official development assistance, defense, culture, labor and consular matters.
The Minister affirmed South Koreans' continued preference for the Philippines as a tourism and holiday destination, as well as a center of learning, as attested by the continued impressive growth in the number of visiting Koreans.
In 2009, close to 500,000 South Korean tourists came to the country.
Minister Yu was joined by Vice President Jejomar C. Binay, Secretary Romulo, and members of the Philippine Congress in inaugurating the new Chancery of the Korean Embassy at the Bonifacio Global City in Taguig City last August 26.