The distinctive Korean food has also captured the taste of Filipinos. The primary
hesitation about Korean food has now been replaced with great appreciation. With the
rise of the Korea’s cultural economy and pop culture, it couldn’t have been done with
the rising popularity all over the globe. K-pop is a pop music that showed significant
trends over the past few decades. This is primarily originated from South Korea that has
since captured the ears of music lovers all over the globe.
If the development of the Philippine economy is sustained and a better
investment environment is promoted by the next administration to govern it, it is
expected that Korean investments will expand even more over the next few years.
With regards to the official development assistance (ODA), the Koreans also aid
in the matter and this support system has been growing during the past years.
According to the National Economic and Development Authority statistics. The
country, South Korea as stated, has a total ODA of $608.72 million in year 2013,
comprising of $524.76 million in their loans and $83.96 million in their grants. The loans
are overseen by the Korea Export-Import Bank, while technical assistances and grants
are through the Korean International Cooperation Agency.
It is expected that the total Korean ODA to the entire Asian will double this year,
as the Republic of Korea has vowed to assist to narrow the development gap among
member-countries.
Through the President of South Korea, President Park Geun Hye and the
President of the Republic of the Philippines, President Noynoy Aquino, pledge to
commit further to strengthen the economic partnership between two countries in
December 2014. During their bilateral meeting at the side lines of the 25th
Commemorative Summit of the Association of Southeast Asian Nations, and the
Republic of Korea in Busan, South Korea. This will predict the promising growth and
prosperity of both alliance. (Aldaba, 2015)
