The Philippines and South Korea will deepen their tourism ties through a new implementation program under the “Memorandum of Understanding on Tourism Cooperation for 2024–2029.”
On Monday, the Philippines Department of Tourism and South Korea’s Ministry of Culture, Sports, and Tourism signed the document. This event took place during South Korean President Yoon Suk-yeol’s official visit to the Philippines, as confirmed in a press release.
This new implementation program expands and strengthens tourism cooperation between the two nations. It builds upon the original agreement that both countries first signed in 2006.
Tourism Secretary Christina Frasco stated that the Department of Tourism fully supports the agreement. She emphasized that it will further boost long-standing tourism and people-to-people connections between the Philippines and South Korea.
She added, “We expect this to drive greater demand for Philippine destinations and tourism products from our number one source market, South Korea. At the same time, it will create more economic opportunities for Filipinos as tourist arrivals continue to grow.”
In the first nine months of 2024, the Philippines welcomed over 4.08 million foreign tourists. This figure reflects a 10.4 percent rise compared to the same period last year.
South Korea remained the top contributor to that number. From January to September, nearly 1.20 million South Korean tourists visited the Philippines. This accounted for almost 27 percent of total arrivals, representing a 12.1 percent year-on-year increase.
In addition to its tourism sector, the Philippines stands out in Asia for its robust and accessible casino industry. It remains open to both local and foreign players.
Investment analysts noted that South Korean tourists dominated the VIP gaming segment in Philippine casinos throughout the year.
Under the renewed agreement, the Philippines and South Korea will jointly strengthen development in key tourism areas. These include hotels, resorts, cruises, ports, and tourism-related products. Moreover, both countries will intensify their joint marketing and promotional efforts to boost travel flows in both directions.
