PASAY CITY — The Philippine Economic Zone Authority (PEZA) strengthened its investment promotion efforts in South Korea through a three-day mission from 25 to 27 August 2026, highlighted by the Philippines-Korea Business Forum, a series of company meetings, and a high-level visit to the headquarters of Samsung Electro-Mechanics Co., Ltd. (SEMCO) in Suwon.
The mission was organized by PEZA, the Philippine Embassy in Seoul, and the Philippine Trade and Investment Center (PTIC)-Seoul, in partnership with Aboitiz Economic Estates, BDO Unibank, and Asian Consulting Group.
Philippines-Korea Business Forum
A key highlight of the mission was the Philippines-Korea Business Forum, which gathered 60 participants from companies involved in electronics manufacturing and its supply chains, packaging, metals, information technology, tourism, and other industries to discuss the Philippine economic outlook and emerging investment opportunities.
The forum brought together the PEZA, PTIC-Seoul, Aboitiz Economic Estates, Asian Consulting Group, and BDO Unibank to provide Korean investors with a comprehensive overview of doing business in the Philippines.
Philippines-Korea Business Forum speakers and panelists
PEZA Director General Tereso O. Panga delivered the keynote address. Other speakers included Philippine Ambassador to the Republic of Korea H.E. Bernadette Therese C. Fernandez; BDO Unibank Director for Research and Investor Relations Dante Tinga, Jr.; Asian Consulting Group Chief Executive Officer Raymond Abrea; BDO Unibank Seoul Representative Office Chief Representative Sohn Changsoo; Industrial Bank of Korea International Trade Support Manager Min Hyun Ki; and Aboitiz Economic Estates Assistant Vice President Nico de Leon.
Discussions covered investment opportunities, the Philippine economic outlook, fiscal and non-fiscal incentives, recent tax reforms, financial and banking systems, and the overall business environment in the country.
DG Panga presented the Philippines’ economic zones as strategic locations for Korean companies seeking to establish or expand manufacturing and other export-oriented operations in Southeast Asia.
“The growing presence of Korean companies in our economic zones provides us with a solid foundation to further deepen the Philippines-Korea investment partnership. Our objective is not only to attract new investors, but also to support the expansion of our existing locators and develop stronger supplier and industry linkages around them,” Panga said.
Philippines-Korea Business Forum held at Seoul, South Korea last 28 August 2026
Building the next pipeline of Korean investments
On the sidelines of the forum, PTIC-Seoul arranged individual meetings with Korean companies exploring investment, expansion, market entry, and supplier opportunities in the Philippines. PEZA was joined in the meetings by representatives of Aboitiz Economic Estates, BDO Unibank, and Asian Consulting Group.
Among the companies engaged was a diversified firm with interests in tourism, including the development of high-end golf resorts, and an affiliate involved in semiconductor materials and IT manufacturing.
PEZA also met with Jipyong LLC, one of South Korea’s leading full-service law firms. Discussions focused on PEZA’s one-stop-shop services for investors and potential collaboration in promoting the Philippines to Korean companies considering overseas expansion.
The mission likewise engaged prospective investors and suppliers across several manufacturing segments. These included Geumjeung Industrial Co., Ltd., a manufacturer of plastic films for the food and beverage industry that supplies major beverage brands in South Korea and is exploring opportunities in the Philippine market; a manufacturer of PCB adhesives and specialty tapes that is considering the Philippines as a potential market; and GAON Cable, South Korea’s oldest cable manufacturer and a producer of industrial power, telecommunications, and other essential cable products, which is likewise assessing opportunities in the country.
Meetings with various South Korean companies
A key focus of the meetings was the semiconductor and electronics supply chain. The delegation met with two key partners and suppliers of Samsung Electro-Mechanics (SEMCO): a manufacturer of chemicals used in semiconductor and printed circuit board surface treatment, including electroless and electrolytic plating and organic solderability preservatives; and a producer of precision industrial products, including MLCC cutting blades, slitter knives, slitting saws, wheel cutters, and nickel mesh, supported by cemented carbide and ceramic technologies.
PEZA sees opportunities for companies in these segments to participate in the growing semiconductor and electronics ecosystem surrounding the expansion of Samsung Electro-Mechanics Philippines Corporation (SEMPHIL), which is undertaking a ₱50.7-billion expansion project granted Presidential incentives pursuant to the CREATE MORE Act.
Panga said these engagements demonstrate the opportunities to attract not only large anchor investors but also their suppliers and partners into the country.
“As our major Korean locators expand, PEZA wants to capitalize on the opportunity to bring more of their supply chains to the Philippines. This creates a multiplier effect—more investments, stronger local industry linkages, additional exports, and more high-value jobs for Filipinos. The Philippine Trade and Investment Centers (PTICs) play a vital role in opening doors by introducing the Philippines and connecting us with prospective investors. Once investors arrive on our shores, PEZA handholds them through the registration process and supports their operations as they establish and expand in the country,” he said.
PEZA meets Samsung Electro-Mechanics leadership in Suwon
Capping the mission was a visit by DG Panga to the Samsung Electro-Mechanics headquarters in Suwon, where he met with SEMCO Executive Vice President Jeremy Choi and other senior executives to discuss the company’s outlook and plans for its Philippine operations.
PEZA meeting with SEMCO officials in Suwon
SEMCO executives shared a positive outlook for the company’s multilayer ceramic capacitor (MLCC) business, supported by rapidly growing global demand from artificial intelligence servers and automotive electronics.
The discussions also covered the continuing development of Samsung Electro-Mechanics Philippines and the strategic role of its Philippine manufacturing operations within the company’s global network.
As part of efforts to support SEMPHIL’s expansion and strengthen its local supply chain, around 30 of SEMCO’s Tier 1 suppliers are expected to visit the Philippines in October for due diligence and to assess opportunities to establish operations in the country.
Panga reaffirmed PEZA’s commitment to supporting SEMPHIL’s expansion, facilitating the entry of its suppliers, and ensuring that the Philippines remains competitive as a location for advanced electronics and semiconductor manufacturing.
Beyond multinational companies diversifying production away from China and Taiwan as part of broader global supply-chain realignment, PEZA also anticipates increased interest from manufacturers already operating in Vietnam that are considering establishing redundant or complementary production facilities in the Philippines to support major investments such as SEMCO’s continued expansion of its high-technology operations through SEMPHIL.
According to some SEMCO Tier 1 suppliers that participated in the PEZA investment briefing in Seoul, the Philippines is being seriously considered not only because of the opportunity to locate closer to SEMPHIL, but also because of advantages they see in the country’s more productive workforce, competitive fiscal incentives, and the reliability of power supply in key economic zones relative to their existing operations in Vietnam.
Panga said these developments reinforce the Philippines’ potential to emerge not simply as an alternative production site, but as a complementary and increasingly important manufacturing base within companies’ diversified ASEAN supply chains.
With the increasing cost of doing business in Vietnam, the tightening availability of industrial areas for foreign manufacturing investors, and the Philippines’ relatively more reliable and stable power supply, PEZA anticipates that more multinational companies will increasingly channel their investments to the Philippines as a base for manufacturing and exports, particularly to the US and EU markets. This continuing pivot in global trade and investment flows will further strengthen the Philippines’ position as a preferred manufacturing hub and strategic gateway to the broader Asia-Pacific region.
The Philippines likewise seeks to take advantage of the Philippine-South Korea Free Trade Agreement (FTA), signed in 2023 and ratified in 2024. Under the FTA, South Korea will grant preferential duty-free entry or remove tariffs on 11,164 Philippine products accounting for $3.18 billion, or 87.4 percent of total Korean imports from the Philippines. The Philippines, on the other hand, lifted tariffs on some 96.5 percent of goods from South Korea, including automobiles, electric and hybrid vehicles—presenting an opportunity for South Korea’s robust automotive industry to expand its presence in the Philippines.
In 2024, South Korea was the top investor in PEZA zones. As of this writing, PEZA is home to more than 180 companies with major South Korean equity across a wide range of industries, particularly electronics manufacturing and tourism. These companies have infused more than PhP 120 billion in investments and are home to over 43,000 Filipino employees.
PEZA said it will continue working closely with PTIC-Seoul, the Philippine Embassy in Korea, private-sector partners, and Korean industry groups to convert the growing pipeline of investment leads into actual projects in the country. ###