The Philippines and South Korea have reaffirmed their commitment to strengthening bilateral ties and exploring new opportunities for investment and economic cooperation.

The commitment was made during Executive Secretary Ralph Recto’s meeting with South Korean Ambassador to the Philippines Lee Sang-Hwa on Monday, according to the statement from the Office of the Executive Secretary (OES) on Tuesday.

Discussed during the meeting were plans to further deepen bilateral ties and explore opportunities to improve the ease of doing business and attract more Korean investments into the Philippines.

“Executive Secretary Recto assured the Ambassador that the government is proactively addressing investor concerns to make the Philippines a more competitive and secure investment destination,” the OES said.

Lee also assured the Philippine government of South Korea’s strong support for its hosting of the Association of Southeast Asian Nations’ meetings this year, noting Seoul’s keen interest in building stronger relations with the region.

The meeting was held as the two nations prepare to celebrate the 77th anniversary of the establishment of diplomatic relations in March.

Bilateral relations between the two countries started on March 3, 1949 when the Philippines became the fifth country to recognize the Republic of Korea, which was inaugurated on Aug. 15, 1948.

Philippine officials present during the meeting were OES Senior Deputy Executive Secretary Maria Luwalhati Dorotan Tiuseco and Undersecretaries Erwin Sta. Ana and Facundo Palafox IV, along with Presidential Anti-Organized Crime Commission executive director, Undersecretary Benjamin Acorda Jr. (PNA)