Relations, cooperation between Korea and the Philippines grow by leaps and bounds

This article is published on the occasion of the National Day of the Philippines on June 12, 2019 amidst continuously fast-growing ties between the two countries.—Ed.

By Senior Editorial Writer Kim Hyung-dae

It has been 70 years since the Republic of Korea (ROK) and the Republic of Philippines (R.P.) established diplomatic relations. The Philippines sent about 7,400 soldiers during the Korean War and this alliance has become one of the firm foundations of the two countries’ bilateral relationship.

In late December 2013, Korea sent Araw contingent to Tacloban City in the Philippines to engage in post–Haiyan typhoon recovery effort and carried out rehabilitation project of schools and public offices and medical care service with success.

Furthermore, recently there have been some notable achievements in the defense industry, development assistance, personal interchange, and cultural exchange between the Philippines and Korea.

Therefore, the comprehensive partnership has been intensified and advanced. Korea and the Philippines have become close neighbors, especially in 2018 when over 1.97 million personal interchanges were accomplished.

Alongside the Korean major companies, about 1,600 medium-small businesses in various areas such as manufacturing industry, service industry, and R&D (research and development) have come into the Philippines. The number of Korean construction companies also keeps increasing in the Philippines and the Korean brand cosmetic and food stores are also broadening their operations. The gross trade scale of both countries in 2018 is $15.7 billion and by Philippine standards, Korea is the fourth largest trading partners.

As in the case of many other countries, in the Philippines Korean companies out there have a big share in the promotion of relations and friendship between Korea and the Phipplines.

Wikipedia lists hundreds of Korean companies in the country and among them stand out Aju Group, AKOM , Amorepacific Corporation, Andamiro, Asia Cement, Kumho Asiana Group, KT Corporation, Big Hit Entertainment, Bubang Techron, Busan Bank, BYC, CAS Corporation, Cheil Industries, CJ CGV, Com2uS—and the list can go on and on.

And, of course, there are ‘unsung heroes’ and one of them may be DIC who wants to be the ‘Best Powertrain Make in the World.’

CEO Kim Sung-moon says, “Our company has been specialized in production of gear and shaft, major parts of transmission since its foundation in 1976 and grown as the leading gear maker in Korea.” (See further details at the end of this report.)

President Moon Jae-in hosted a summit with Philippine President Rodrigo Duterte, on an official visit to Korea for three days, on June 4, 2018, and reaffirmed the Philippine government’s agreement to expand bilateral exchanges and to cooperate on the denuclearization of the Korean Peninsula.

At the second summit between Korea and the Philippines, after the first in Manila in November the year before, the two leaders highly appreciated what the two countries have witnessed over the past seven decades since the establishment of diplomatic ties in 1949. The two countries have some 2 million tourists coming and going, and the total volume of trade last year topped USD 14.3 billion.

The two sides discussed ways to further increase bilateral exchanges across various areas. They agreed to more frequent high-level meetings and an increase in the economic development cooperation fund (EDCF) to finance infrastructure projects up to USD 1 billion. They also vowed to expand bilateral cooperation on transportation, energy, IT, science and agriculture, and to boost human-to-human exchanges by designating 2019 as the “Year of Bilateral Exchanges between Korea and the Philippines.”

President Moon stressed, in particular, that he hoped his administration’s New Southern Policy, aimed to achieve a people-centered nation where the people live in peace together, would contribute to the materialization of the Duterte government’s national development plan, known as Ambisyon Natin 2040, a long-term initiative to end poverty across the Philippines by 2040.

President Moon called the two countries “very special friends” in a subsequent joint press conference, pointing out that the Philippines was the first Southeast Asian country with which Korea made a modern diplomatic relationship.

“Manila is a core partner in the New Southern Policy that our government is pushing forward. Today, I’ve had an in-depth discussion with President Duterte to develop Korea-Philippines ties in a more future-oriented manner,” President Moon stressed.

In response, President Duterte said, “The Philippines has a lot to learn from Korea, a country that has transformed itself successfully into one of the world’s greatest economies over the past years. We’ll work with this nation to develop new, innovative key industries in our nation.”

The Philippine leader also clarified his support for the Korean government’s efforts to pursue denuclearization and peace on the Korean Peninsula.

“I recognize President Moon’s vision that will bring peace, security and prosperity to the peninsula. President Moon’s down-to-earth dedication to that end is seen in the outcomes of the historic April Inter-Korean Summit, the Panmunjeom Declaration,” he said.

“We hope that the development we’ve seen regarding the peninsula over recent months will contribute to achieving our common goal, denuclearization. As responsible members of the international community, the Philippines and Korea will continue to support each other to make this goal happen,” President Duterte added.

Taking advantage of this summit, the two sides signed five memoranda of understanding to expand cooperation on transportation infrastructure, the economy and trade, the supply of renewable energy, science and technology, and, lastly, construction of a new container terminal in Cebu.

Introduction of DIC:

Our company has been specialized in production of gear and shaft, major parts of transmission since its foundation in 1976 and grown as the leading gear maker in Korea.

In addition, our company completed Unyang Plant with the belief that companies may have the significance of existence of company only through endless development, where various auto parts and components including car engine, transmission gears, shafts and transmission are assembled and produced.

Our company also built Dudong Plant in 1996, which is specialized in manufacturing transmission for public car.

Furthermore, we carried out drastic investment in factory automation and purchased up-to-date facilities to secure perfect quality assurance system, by which we consolidated the basic on which we can grow as the cradle of mechanical engineering.

With the firm competitive power through the perfect quality and technology, we export various transmissions, transaxles and drive axles to worldwide leading forklift makers as well as domestic customers. And, we also mass-produce transmissions & high-performance engine ass’y for 1800cc motorcycle. Especially, with our own technology, we developed 6-speed transmission for motorcycle firstly in the world, which propelled our technology to further progress.

Our company consolidated its images as “Challenging company that will become a leading company for the 21st century with creative corporate spirit”. At the same time, we promise to meet our customers’ needs through our corporate ideology to take the major role in mechanical engineering industry being the best powertrain maker and fulfill our social responsibility with motto “Customer Satisfaction, Realization of Strong Impression to Customers through Perfect Quality-Priority” as the global leader for the second jump-up. We will continue to grow as DIC(DAE-IL Corporation) in the world through endless research and development and technological innovation.