PH promoted as retirement, investment haven

Officials from the Philippine Retirement Authority (PRA) met with Philippine Ambassador to South Korea Raul S. Hernandez to apprise the Philippine Embassy of the Philippines of PRA’s successful participation in the Korea Emigration and Investment Fair on 10-14 September.  Ambassador Hernandez was joined by Consul General Iric C. Arribas.

Ms. Annalyn A. Eria and Mr. Remus Erlan S. Palmos said the Fair was held at two venues, with the first being the Busan Exhibition and Convention Center from September 10 to 11, and the second at the COEX Convention Center, Gangnam, Seoul from September 12 to 14.

Ms Eria said the Philippine booth was popular among Korean visitors since there was great interest in the various retirement packages being offered by the PRA.
Ambassador Raul S. Hernandez assured them of the Philippine Embassy’s continued support in assisting the PRA to promote the Philippines as a retirement haven and tourist destination to the Korean market.

Since May 2009, the PRA, under the Department of Tourism, has sought to promote the Philippines as an attractive retirement and investment destination for foreign nationals and former Filipino citizens with the end view of accelerating the country’s socio-economic development.

To date, a total of 35,000 foreign nationals have obtained the Special Resident Retiree’s Visa (SRRV). Of this total, there were 8,000 from Korea, placing Korean retirees at second place following Chinese retirees at 16,000.  Popular destinations for Korean retirees are Baguio, Cebu, Subic and Clark.