ROK Drop

Avatar of GI KoreaBy on October 21st, 2013 at 7:45 pm

Philippines Wants To Emulate Korea’s Economic Success

It is probably a good strategy for the Philippines to try and emulate the Korean economic miracle:

SEOUL, South Korea — The Philippines, dubbed as the new Asian Tiger, wants to be the next South Korea.

While on a state visit to Korea a few days ago, President Benigno S. Aquino III has admitted his admiration for the progress attained by the Asian neighbor after it was ravaged by war several decades ago.

The president, in a forum with Korean businessmen last Friday afternoon, said he hopes the Philippines, whose economy has booming due to his sound economic reforms, can emulate the progress of its Asian neighbor.

“To see and marvel at where you have come now is really an example for all other countries to emulate. And hopefully, we will be able to imbibe and transmit to our people the very positive values that we see in the Korean populace and in your country and your government,” Aquino said.

Aquino said this was his third visit to Korea, adding that every time he travels to this country, “it seems to have transformed itself.” His first visit to Korea was in the late 1980s. [Manilla Bulletin]

You can read more at the link but nations wanting to emulate Korea must also realize the hard work and sacrifice of Korea’s older generation that built today’s economic success.

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  • JoeC
    8:03 pm on October 21st, 2013 1

    I don’t see it happening anytime soon.

    As someone who has been back an forth between both countries since a time when Korea was only marginally more advanced than the Philippines, I can say that while Korea come a long way from overcoming its corruption, the Philippines is still severely crippled by it.

    I still see foreign investors make attempts to go into the Philippines only to be driven off be the chronic corruption and hands out demanding their cut and payoffs at every level of the public and private sectors.

  • Baek, In-je
    8:16 pm on October 21st, 2013 2

    The parallel between the two MASSIVE SEX INDUSTRIES in Korea and the P.I. is palpable.

  • Retired GI
    9:40 pm on October 21st, 2013 3

    The first thing I thought of was when I was there in 1991 and Pinatubo erupted. Prior to that the US had made attempts to negotiate “rent” for Subic and Clark. Each time we agreed they would rise the amount. Then the eruption. I heard a joke for the air force guys about the rent suddenly being MUCH cheaper for the destroyed bases. We had enough and left. Took our floating docks as well. I recall reading about how happy the Catholics were. They thought that prostitution would end when the Americans left. Not quite, but all those JOBS on base left. I remember reading about the looting of the bases afterward. I should not have to mention the help that Korea had because of America, that the Philippines no longer have. I have no pity for the Philippines. They did it to themselves and are still doing it. Fed Ex tried to do business there, a few years back. Didn’t work out. Japan I think, was going to do something with the old Clark Air Base years ago. Still waiting. I have heard reports that they even sell their sand. Think I read that here. Not sure.

  • Me
    12:10 am on October 22nd, 2013 4

    The first step in realizing this dream would be for LTG Coballes, AFP, to execute a coup d’état, declare martial law, suspend the country’s constitution and declare himself president for life. The second step would be to establish Chaebol and persue a more export based economy while average per capita income of the average Filipino. Short of these basic measures, there probably isn’t any hope.

  • Bob
    3:23 am on October 22nd, 2013 5

    How ironic, Korea forever lets other countries and businesses do the legwork and copies their ideas.

    Now the shoe is on the other foot, Korea has done all the work, developed a blueprint (if you ignore Japan initially developing it for Korea) and now other developing economies say “thanks, we’ll take that” and squeeze the Koreans out of their export dominated economy.

    Welcome to the world of the developed economy- say hello to 3.5% annual GDP, max.


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