MANILA, Philippines — The Korea Tourism Organization (KTO) announced the signing of a landmark Memorandum of Understanding (MOU) with four of the Philippines' leading financial institutions: BDO Unibank (BDO), Bank of the Philippine Islands (BPI), Metropolitan Bank & Trust Company (Metrobank) and Rizal Commercial Banking Corporation (RCBC).
This strategic partnership marks a significant milestone inthe celebration of the 75th year of diplomatic ties between the two countries.
The MOU was officially signed recently at the Makati Shangri-La, Manila, attended by KTO’s acting president YoungChoong Seo and key executives from the four banks.
This collaboration aims to promote the simplified visa application program of the Korean Embassy in the Philippines for the eligible bank credit card holders; and leverage the banks' extensive networks to drive greater awareness and interest in South Korea as a premier travel destination.
The MOU represents a shared vision of expanding tourism and cultural understanding, offering Filipino travelers a seamless visa application process, and new opportunities to explore and experience the rich heritage, modern attractions, and natural beauty of South Korea.
Eligible cardholders of the signatory banks are qualified for the simplified visa application until December 31. This simplified procedure eliminates the need to submit bank certificates, bank statements and Income Tax Returns (ITR) for themselves and their immediate family members.
To apply, cardholders simply need to provide an original Certificate of Employment, a copy of their credit card showing full details, and the latest three months of billing statements.
Following the MOU signing, KTO organized the Korea Tourism Roadshow 2024 Manila to further enhance the collaboration between South Korea and the Philippines. The event served as a platform to engage Philippine outbound travel agents with Korean companies and foster the development of innovative Korea tourism products.
Building on the business-to-business efforts of KTO, the Korea Travel Fiesta 2024 was held last September 7 to 8 to encourage Filipinos to choose Korea as their next travel destination. The event featured principal leaders of the tourism industry in Korea and the Philippines, and renowned Hallyu celebrities such as EXO’s Xiumin and OST singer PUNCH.
From January to July 2024, Korea is ninth on the list of the Philippine Department of Tourism’s “Outbound Philippine Residents by Country of Destination.” Throughout these remarkable three days, KTO is focused on boosting Filipino tourist arrivals to Korea and promoting the diverse and remarkable experiences that South Korea can offer.
Editor’s Note: This is a press release from Korea Tourism Organization. It is published by the Advertising Content Team that is independent from our Editorial Newsroom.