Bureau of Customs Commissioner Ariel Nepomuceno recently highlighted ongoing reforms to improve business ease in the Philippines and attract Korean investments. He attended a seminar discussing customs procedures and other regulations. South Korean Ambassador Lee Sang-Hwa emphasized strengthening ties between the two nations.
Commissioner Nepomuceno attended the ADB: BOC-Invited Business Support Seminar hosted by the Korea Trade-Investment Promotion Agency. There, he discussed streamlined customs procedures, digitalization initiatives, and strengthened stakeholder engagement.
The event covered key areas for foreign enterprises, including customs clearance processes, procurement policies, corporate finance and foreign exchange, as well as labor and taxation regulations. Representatives from 33 major Korean companies participated.
The seminar underscored the longstanding economic partnership between the Philippines and the Republic of Korea. South Korean Ambassador Lee Sang-Hwa stressed the importance of deepening trade and investment relations, noting South Korea as one of the Philippines' largest investment sources.
Nepomuceno emphasized the BOC's commitment, stating, “It’s my job to make sure that we will have a good understanding on how we can help each other, how BOC will be your partner, not your problem.” The bureau pledged to facilitate legitimate trade and address concerns of Korean firms.
