Marcos attending APEC meet in South Korea

MANILA, Philippines — President Marcos is expected to bring home more investments for the Philippines during his attendance at the 32nd Asia-Pacific Economic Cooperation (APEC) Economic Leaders’ Meeting in South Korea, despite the corruption scandal currently hounding his administration, the Department of Foreign Affairs (DFA) said yesterday.

Under the theme, “Building a Sustainable Tomorrow, Connect, Innovate, Prosper,” the meeting is set to take place in Gyeongju, South Korea from Oct. 30 to Nov. 2.

“The meeting will gather leaders and representatives from APEC’s 21 member economies,” DFA spokesperson Angelica Escalona told a press conference at Malacañang.

“(This is an) opportunity for us to get more investments from the Republic of Korea,” she added.

Escalona said Marcos’ participation will focus on advancing the Philippines’ economic interests, forging deeper ties with APEC members and reaffirming the country’s commitment to APEC’s vision of a more open, prosperous and dynamic Asia-Pacific region in a rapidly changing global landscape.

She also noted that South Korea has clarified reports claiming that President Lee Jae-myung ordered the suspension of a P28.8-billion loan to the Philippines due to alleged corruption risks.

“They reassured us of their support for advancing development cooperation with the Philippines,” said Escalona.

Escalona maintained that ongoing protest actions against corruption would not affect investor confidence in the country.

“We do not really see it because what is happening now is really an expression of our democracy, what happens in our country. The interest in the Philippines on the economic side continues,” she said.

According to the DFA, the two sessions of the APEC Economic Leaders’ Meeting are expected to produce four key outcome documents: the Leaders’ Declaration, and statements on artificial intelligence, demographic change and cultural and creative industries.

Aside from the main sessions, Marcos will attend the Leaders’ Dialogue with the APEC business advisory council and deliver a speech at the APEC CEO Summit.

The President will be accompanied by First Lady Liza Marcos; Foreign Affairs Secretary Maria Teresa Lazaro; Trade and Industry Secretary Maria Cristina Roque; Migrant Workers Secretary Hans Leo Cacdac; Presidential Communications Office acting secretary Dave Gomez and Special Assistant to the President for Investment and Economic Affairs Frederick Go.

Pinoys in Korea

Apart from the APEC activities, Marcos is set to meet with members of the Filipino community in Busan.

Escalona said there are around 70,000 Filipinos living in South Korea, including more than 42,000 overseas Filipino workers.

“Many of our OFWs work in sectors like manufacturing, agriculture and fishing. Some of them are professionals, some work in the entertainment sector, as well as household workers,” Escalona noted.

She added there are no major issues affecting Filipinos in South Korea.

“We don’t have major issues because Korea has very good labor laws. Generally, we’re good in Korea,” she said.

The President’s visit will conclude with a wreath-laying and tree-planting ceremony at the United Nations Memorial Cemetery in Busan, in honor of the 7,420 Filipino soldiers who fought in the Korean War as members of the Philippine Expeditionary Forces to Korea.

No Marcos meeting with Trump, Xi

President Marcos, meanwhile, has no scheduled meetings with US President Donald Trump and Chinese President Xi Jinping during the APEC meeting.

Escalona said political and security issues, including the West Philippine Sea dispute, are not part of APEC’s agenda.

“The APEC is an economic forum aimed at facilitating trade and investments and promoting sustainable development so our issues will revolve around trade, investment, sustainable development,” she said.

Escalona declined to comment on why no bilateral meetings with Trump or Xi were arranged.

She disclosed, however, that the DFA is finalizing two possible bilateral meetings for Marcos, as well as another set of meetings with business leaders and executives on the sidelines of the summit.

“I cannot state the names, the one-on-one meetings, but they are in the priority sectors identified by the US,” said Escalona.