Korea Trade-Investment Promotion Agency (KOTRA) held an economic cooperation event in the Philippines in conjunction with President Lee Jae-myung's state visit.
KOTRA announced that it hosted the "Korea-Philippines Business Partnership" event at the SMX Convention Center in Manila on June 4. The event brought together 51 Korean small and medium-sized enterprises from various sectors including K-wave consumer goods and artificial intelligence.
To support Korean companies' entry into the Philippine consumer market, KOTRA organized one-on-one business consultations alongside a K-Culture experience zone, which drew enthusiastic responses from attendees.
The business consultation sessions connected approximately 40 companies with over 100 local buyers, focusing on consumer goods, services, and medical-bio sectors. Dedicated consultation booths were set up for major Philippine retail networks, reflecting local companies' partnership demands. SM Group, the country's largest retail conglomerate operating 89 shopping malls, and warehouse retailer Landers discussed stocking Korean products.
Outside the consultation venue, a K-Lifestyle showcase featured Korean cosmetics, ready-to-eat meals, and massage chairs, attracting significant interest from Philippine buyers. K-franchise food tastings offering gimbap, pot rice, and coffee drew attention, while prominent Philippine influencers conducted live commerce sessions featuring Korean products. The event yielded 11 contracts worth $16.4 million in total, including a supply agreement between a Korean pharmaceutical company and a leading Philippine contrast agent distributor.
KOTRA also hosted the "Korea-Philippines AI·Digital Transformation (AX·DX) Roundtable," targeting the Philippines' national digital transformation agenda. David Almirol, Undersecretary of the Department of Information and Communications Technology (DICT), attended and discussed cloud and data center construction projects with 11 Korean ICT companies.
"The Philippines, marking 77 years of diplomatic relations this year, is a representative hub of the Korean Wave economy in Southeast Asia," said KOTRA President Kang Kyung-sung. "We will leverage the strengthened bilateral cooperation from this state visit and actively utilize the Korea-Philippines FTA to expand Korean companies' market entry."