[Event Highlights] KCCP’s 29th Annual General Membership Meeting
The Korean Chamber of Commerce Philippines, Inc. held its 29th KCCP Annual General Membership Meeting on April 18, 2024 at the Ayala Banquet, Makati Sports Club. The event commemorates its 29 years in service to Korean businesses in the Philippines.
KCCP President Mr. Hyunchong Um, in his welcoming remarks, reiterate its importance of Philippine Korea Bilateral Relations which this year marks its 75 years. He also said that KCCP prepared this event for its members to meet, connect and build camaraderie amongst each other .
During the event, KCCP had the pleasure in having Mr. Seung Man Sang, Deputy Chief of Mission and Consul General of the Korean Embassy and Mr. Jude Aguilar PCCI Vice President for International and Trade who both gave a congratulatory message to KCCP respectively and followed by the greetings from its longstanding partners, Philippine Korea Economic Council (PHILKOREC) Chairman Robert Yupangco and Philippine KOICA Fellow Association (PHILKOFA) President Mr. Marlon Tagorda.
Esteemed speakers were also invited to speak on important and timely business-related topics, first speaker was Mr. Tereso O. Panga Director General, Philippine Economic Zone Authority who talked about investing in PEZA, during his presentation he mentioned that Koreans was ranked 7 in the top ecozone locator investment and currently has 212 locator with Php 51.296billion in Investments. DG Panga also encourages all KCCP members to locate in PEZA to enjoy numerous business incentives.
The next KCCP speaker was Mr. Sujung Lee, Director General of KOTRA Manila who tackled the recent trends in trade and investments between Korea and the Philippines. He expertly shows Status of Korea and Philippines’ Trade, Free Trade Agreement (FTA) and Regional Comprehensive Economic Partnership (RCEP) as well as the Trade Barriers in the Philippines. He mentioned that Korea is the sixth largest export partner of the Philippines which is highly dependent on manufactured goods especially the electronics products. He also mentioned in 2023, Korea’s investment in the Philippines amounted to $100 million, showing a 16.1% increase from $87 million in 2022. Korea is a signatory to various multilateral FTAs with the Philippines, including the RCEP and the Korea-ASEAN FTA but the most notable is the Korea-Philippines FTA which was concluded in October 2021 but as of July 2023 is still under legal scrubbing. KCCP both awarded its speakers with Certificate and Token of Appreciation for their excellent presentation.
One of the highlights of the Annual Meeting was the announcement of the extension of KCCP President Mr. Um which was announced by KCCP Honorary President Mr. Jang Jae Jung and it was seconded by the KCCP Members. Corporate Secretary Atty. Rolando L. Villones awarded a certificate of appointment to Mr. Hyunchong Um being the 17th KCCP President to serve for another 2-year term from April 2024 up to April 2026, Atty. Villones was also joined by other KCCP Honorary Presidents – Mr. Kwan Soo Lee, Mr. Jae Jung Jang, Mr. Ill Kyoung Park and Mr. Ho Ik Lee . Before the dinner, Mr. Man Yeong Youn, President, United Korean Community Association (UKCA) lead all attendees to the ceremonial wine toasting. During the dinner, all attendees was serenaded by the Polytechnic University of the Philippines (PUP) Bagong Himig Sereneta Chorale.
Mr. Hyunchong Um, once again delivered his message being the 17th KCCP President and he also introduced the Board Members of the KCCP.
The night ends in great cheers as KCCP raffled out some prizes from its generous sponsors from ASAP Automan Service and Parts, Inc., Cupko for the delicious Kimbap, Little Clarion International Preschool, Megaworld Hotels and Resorts, Newport Resorts Hoilday Inn Express, Sunlight Express Airways, Industrial Bank of Korea Manila Branch, CJ Philippines, KEB Hana Bank, Hyundai Motor Philippines Inc., and Samdo Philippines Corporation.
In the closing remarks, KCCP thanked all the generous sponsors and is looking forward to hosting more event for its members in the future.
