DTI Pushes Special Program for EV Industry to Boost Trade, Investments with South Korea

Hyundai Kona Electric
Department of Trade and Industry (DTI) Secretary Ramon Lopez underscored that for the Philippines to be a production hub of electric vehicles (EV) in the future, the government should work on a special program that will attract investors in the different stages of the value chain in the EV industry. The special program can also boost the bilateral trade and investments between the Philippines and South Korea. "We are studying what other support we can provide to the e-vehicle industry. A special program that will quickly attract foreign and local investors in this industry of the future, if it is to compete with other countries with respect to becoming a preferred location for e-vehicle production," shared Lopez to officials from the Republic of Korea Ministry of Trade, Industry, and Energy (MOTIE), Korea Trade and Investment Promotion Agency (KOTRA), as well as South Korean companies during the Korea-ASEAN FTA Support Center Grand Opening Ceremony on June 25. The initiative came after the recent meeting of Lopez with the International Electric Vehicle Association and other companies in the EV industry in South Korea earlier this month. The group was encouraging the Philippine government to provide additional support to attract more investors in the EV and parts industry, aside from the usual fiscal incentives. The association also suggested that aside from the usual tax holidays, there's a need for performance-based, time-bound incentives, and demand creating incentives from other private groups like free parking or discounted toll fares to jumpstart this new industry, just like what are offered in South Korea and other ASEAN Member States. "We see so much potential and opportunities in our e-vehicle industry that can be further strengthened with our deepening bilateral relationship with a manufacturing powerhouse like South Korea," said the DTI secretary. Meanwhile, Lopez commended the MOTIE for opening the Manila Support Center to promote trade between the two countries and assist businesses in maximizing the gains of the future Free Trade Agreement (FTA). The KOTRA Manila FTA Support Center is the fourth support center to be opened in the ASEAN region. It will offer services such as FTA seminars, consultations on trade procedure, tax, tariff and legal advice, assistance for grievance resolution, as well as public relation activities. Last June 3, the Philippines and South Korea launched the negotiations for an FTA, which is eyed to be completed by September this year, in time for the signing on November by the two leaders.

Hyundai Kona Electric

Explore Hyundai Kona EV

Hyundai Car Models

Hyundai Cars
  • Hyundai Accent 2025
    Hyundai Accent 2025
  • Hyundai Creta
    Hyundai Creta
  • Hyundai Custin
    Hyundai Custin
  • Hyundai Elantra
    Hyundai Elantra
  • Hyundai Elantra N
    Hyundai Elantra N
  • Hyundai H-100
    Hyundai H-100
Read All

Featured Articles

Recommended Articles For You

Read All

Featured Hyundai Cars

  • Upcoming

Hyundai Kona EV Car Articles From Zigwheels

  • News
  • Article Feature
  • Advisory Stories
  • Road Test
  • Camille Prats is Jetour Lightning i-DM with Boss interior's first-ever owner
    Camille Prats is Jetour Lightning i-DM with Boss interior's first-ever owner
    Paulo Papa . Today
  • Mercedes-Benz PH to expand GLC PHEV lineup?
    Mercedes-Benz PH to expand GLC PHEV lineup?
    Ruben Manahan IV . Today
  • Suzuki PH unveils XL7 lineup with ‘Black Edition’ trim
    Suzuki PH unveils XL7 lineup with ‘Black Edition’ trim
    Ruben Manahan IV . Today
  • Astara establishes new 2 JMC PH dealerships
    Astara establishes new 2 JMC PH dealerships
    Ruben Manahan IV . Today
  • Audi, Adidas forges multi-year partnership for F1
    Audi, Adidas forges multi-year partnership for F1
    Ruben Manahan IV . Today
  • Check out the GWM Ora 03’s key rivals
    Check out the GWM Ora 03’s key rivals
    Cesar Miguel . Sep 12, 2025
  • Here are the Ford Territory Hybrid’s strengths, weaknesses
    Here are the Ford Territory Hybrid’s strengths, weaknesses
    Cesar Miguel . Sep 12, 2025
  • VinFast VF 5: top 3 reasons to buy
    VinFast VF 5: top 3 reasons to buy
    Paulo Papa . Sep 09, 2025
  • Check out the Subaru WRX’s closest alternatives
    Check out the Subaru WRX’s closest alternatives
    Cesar Miguel . Sep 08, 2025
  • Lynk & Co. 01 vs BYD Sealion 5 DM-i vs Changan Nevo Q05: Chinese hybrid SUV smackdown
    Lynk & Co. 01 vs BYD Sealion 5 DM-i vs Changan Nevo Q05: Chinese hybrid SUV smackdown
    Paulo Papa . Sep 05, 2025
  • How well do you understand traffic signs?
    How well do you understand traffic signs?
    Cesar Miguel . Sep 09, 2025
  • How car collectors can take advantage of Liqui Moly products
    How car collectors can take advantage of Liqui Moly products
    Ruben Manahan IV . Sep 08, 2025
  • Do you still need to wash your car after it rains?
    Do you still need to wash your car after it rains?
    Cesar Miguel . Jun 12, 2025
  • What should you visit first at MIAS 2025?
    What should you visit first at MIAS 2025?
    Cesar Miguel . Apr 11, 2025
  • Do you really need 4x4 for overlanding?
    Do you really need 4x4 for overlanding?
    Cesar Miguel . Mar 26, 2025
  • Ford Everest Sport Special Edition: ‘tough’-tier SUV
    Ford Everest Sport Special Edition: ‘tough’-tier SUV
    Paulo Papa . Today
  • Toyota Corolla Cross GR-S HEV: sporty yet sustainable
    Toyota Corolla Cross GR-S HEV: sporty yet sustainable
    Paulo Papa . Sep 08, 2025
  • ELECTRIA: JMC EV3 - cutesy city slicker
    ELECTRIA: JMC EV3 - cutesy city slicker
    Cesar Miguel . Sep 04, 2025
  • First drive: Here’s why the Li Mega is the ideal pick for those who wants to be chauffeured
    First drive: Here’s why the Li Mega is the ideal pick for those who wants to be chauffeured
    Paulo Papa . Aug 27, 2025
  • GWM Cannon: range day
    GWM Cannon: range day
    Paulo Papa . Jul 29, 2025