Though the woman the President is dating in an ethnic Korean she has lived in the Philippines since she was a young child:

Philippine President Benigno Aquino has admitted he is dating a Korean expat TV host. Aquino (52) confirmed rumors that he is dating Grace Lee (30) when he visited Quezon City in the southwest of Luzon Island to launch a government agency on Wednesday. He did not answer any other questions, the local press reported.

The rumor started on Twitter on Jan. 26, and local press afterwards reported the story. The bachelor president was reportedly attracted to Lee when he met her in Cebu in June, where he attended a dedication ceremony for a power plant built by Korean steelmaker KEPCO.

“All the guests here are beautiful,” but Grace Lee is the most beautiful, and he could settle wherever she is for love, he was reported as saying at the time.

Lee moved to the Philippines with her family as a child. She is a TV celebrity who hosts a talk show for the GMA Network and a radio program. She confirmed the rumor by saying on her TV program that “what the president said is true,” AP reported.  [Chosun Ilbo]

According to the Wikipedia page on Grace Lee she moved to the Philippines at age 10 because her dad worked for a company that exported Korean cars to the country.  She has since become a DJ and television figure in the country.  Besides Korean she speaks Tagalog and English as well.  If you do a Google Image search for her I think everyone would agree that she is pretty hot.