South Korea's President Yoon Suk Yeol (POOL/AFP)

Senator Sherwin Gatchalian said the upcoming first visit of South Korean President Yoon Suk Yeol to the Philippines will further solidify the bilateral relations between the two countries.

“We are deeply honored by President Yoon’s first visit to the country as this affirms the good bilateral relations that we have enjoyed over the past 75 years with South Korea,” Gatchalian said in a statement on Thursday, Oct. 3.

“We are confident that the visit will serve to further strengthen our ties moving forward,” he added.

President Yoon is undertaking a two-day state visit starting on Sunday, Oct. 6 to celebrate the 75th anniversary of the two countries’ bilateral relations.

He is scheduled to meet with President Marcos on Monday, Oct. 7.

Gatchalian, who chairs the Philippine-South Korea Parliamentary Friendship Association in the Senate, had earlier co-authored and sponsored a resolution recognizing the enduring amity and cooperation between both countries.

“I have witnessed firsthand the remarkable growth of our bilateral ties and for sure, the bonds between our countries are not merely founded on formal agreements or shared interests, but on a profound brotherhood that transcends time and generations,” he said.

The senator noted that the trade between the two nations reached US$10 billion in 2023, with South Korea ranking as the Philippines’ fourth largest trading partner.

In the previous year, South Korea was the Philippines’ seventh largest export market out of 211 countries. Also in 2022, South Korea was the Philippines’ fourth largest import supplier. 

In September of last year, the Philippines and South Korea signed the Philippines-Korea Free Trade Agreement (FTA) on the sidelines of the Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia. 

According to the Department of Trade and Industry (DTI), the FTA would bring major economic gains to the country by providing enhanced market access to South Korea, which includes exports and a more robust mechanism for cooperation.

Gatchalian further said that the depth of the two countries’ bilateral relations has already manifested in “various ways”.

“Sa bawat Korean company na nagbukas ng pintuan para sa trabaho sa ating mga kababayan, sa bawat estudyanteng Pilipino na natututo sa South Korea, at sa bawat pamilyang nagkakaroon ng mas magandang buhay dahil sa ating ugnayan, nararamdaman natin ang tunay na halaga ng ating pagkakaibigan,” he pointed out.

(For every Korean company that opens its doors to provide jobs for our fellow countrymen, for every Filipino student studying in South Korea, and for every family experiencing a better life because of our relationship, we feel the true value of our friendship.)