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Pia Lee-Brago - The Philippine Star
December 8, 2025 | 12:00am
The flags of the Philippines and South Korea are seen in this illustration.
Created using Sora for Philstar.com
MANILA, Philippines — Bilateral trade between the Philippines and South Korea is projected to reach $24 billion by 2030, according to a senior officer of the Association of Southeast Asian Nation (ASEAN) secretariat.
Arief Bakhtiar presented the outlook on the sidelines of the ASEAN–Korea Forum in Manila on Friday.
The projection aligns with the broader regional goal under which ASEAN and South Korea aim to expand overall trade to $300 billion by 2030, a target reaffirmed during the forum as both sides vowed to intensify cooperation through the ASEAN–Korea Comprehensive Strategic Partnership (CSP).
The forum presented Korea’s 2025–2030 engagement strategy and its alignment with ASEAN’s economic integration agenda. Trade expansion, investment promotion, and supply-chain modernization were highlighted as central pillars of regional growth.
The forum was organized by Geopolitics Insight in partnership with the Korea University ASEAN Center, Stratbase Institute, and the UP Korea Research Center. It gathered diplomats, government officials, economists, and business leaders to examine new opportunities that can strengthen ASEAN–Korea economic relations.
South Korean Ambassador Lee Sang-hwa reaffirmed ASEAN’s significance as Seoul’s third-largest trading partner and a dynamic investment destination.
Lee emphasized Korea’s shift toward “qualitative growth,” including an upgrade of the ASEAN–Korea Free Trade Area, enhanced electronic customs interoperability, and support for the ASEAN Digital Economy Framework Agreement.
Ambassador Elizabeth Buensuceso, for her part, stressed the need for a stable, rules-based regional environment, noting that South Korea “has repeatedly affirmed its respect for ASEAN Centrality” through the Korea–ASEAN Solidarity Initiative (KASI).
She explained that KASI reinforces the ASEAN Outlook on the Indo-Pacific by advancing cooperation in maritime sectors, sustainable development, connectivity, and trade facilitation.
Buensuceso affirmed that the Philippines seeks to steer an “ASEAN that is agile, innovation-driven, and unified in pursuing economic growth,” ensuring that expanded trade benefits industries and local communities alike.
