07 April 2015 - A Philippine Retirement Authority (PRA) delegation, led by its General Manager (GM) and CEO Veredigno P. Atienza, called on Philippine Ambassador to South Korea Raul S. Hernandez to report about PRA’s successful participation in the 29th Korea Emigration and Investment Fair held on March 28 and 29 at the COEX Convention Center.
Joining 40 exhibitors from five countries, the Philippine booth attracted a steady stream of visitors due to the high level of interest among Koreans in the various retirement packages being offered by the PRA, according to GM Atienza.
Ambassador Hernandez assured the delegation of the Philippine Embassy’s continued support in assisting the PRA in promoting the Philippines as a retirement haven and tourist destination in the South Korean market.
Since its founding in 1985, the state-owned and -operated company has pushed its promotion activities under the aegis of the Philippine Department of Tourism as an attractive retirement and investment destination for foreign nationals with the end view to accelerating the country’s socio-economic development.
GM Atienza said foreign retirees have a bigger impact on the Philippine economy than tourists, whose every arrival is said to create one job. In the case of retirees, with their overall knock-on effect, just one enrolee in the PRA program can create 120 jobs.
To date, a net total of 35,000 foreign nationals from more than 100 countries have enrolled for the Special Resident Retiree’s Visa (SRRV). In terms of country of origin, South Koreans accounted for 8,000 of this total at second place, following mainland Chinese, whonumbered 16,000. Popular destinations for South Korean retirees are Baguio, Cebu, Subic and Clark. END