PHL, South Korea sign MoU to enforce competition law
THE Philippine Competition Commission (PCC) said it signed an agreement with the Korea Fair Trade Commission (KFTC) to boost the enforcement of competition law in both jurisdictions.
The memorandum of understanding (MoU), signed on May 8, creates a framework for bilateral coordination and consultation on ensuring enforcement of competition law.
“By signing this MoU, both agencies institutionalize a stronger partnership to explore new areas of collaboration, signifying a mutual commitment to fostering fair and competitive markets in both the Philippines and South Korea,” the PCC said in a statement.
PCC Chairman Michael Aguinaldo and KFTC Chairman Biung-Ghi Ju signed the MoU on the sidelines of the 2026 International Competition Network Annual Conference.
The MoU calls for the PCC and KFTC to exchange information, best practices, and experiences, subject to their respective national laws, regulations, and confidentiality requirements.
It also details protocols for notifications involving enforcement activities, as well as the appointment of official liaisons.
South Korea was the Philippines’ second-biggest source of imports at the end of March valued at $4.08 billion, according to the Philippine Statistics Authority. It was 7th among leading destinations for Philippine-made goods, worth $1.01 billion.
In March, the Philippines and South Korea signed key agreements aimed at boosting cooperation in defense procurement, veterans affairs, agriculture, trade, investment, intellectual property, digital cooperation, digitalization and innovation. — Beatriz Marie D. Cruz
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