President Rodrigo Duterte and officials from various South Korean companies discuss business at the Paradise Hotel in Busan, South Korea on Monday. (PRESIDENTIAL PHOTO)

BUSAN, South Korea—President Rodrigo Duterte assured top companies in South Korea of his protection if they expand or invest in the Philippines.

During a courtesy call of South Korea’s major companies on Monday at the Paradise Hotel here, the President vowed to shield businessmen from corruption and abuse, particularly on the ease of doing business, quick issuance of permits and full guarantee on the return of their investments and remittances.

The Korean companies, in return, made commitments to invest in the Philippines, with some already operating in the country and some are expanding. They promised to participate in different infrastructure projects, especially the administration’s Build, Build, Build program.

The President said the Philippines wants continued growth but does not have funds to sustain it, noting foreign investors will play an important role. He encouraged South Korean companies to do business in almost all of the country’s industries, from infrastructure to food manufacturing and others.

The Department of Trade and Industry (DTI) organized the meeting.

President Duterte is in South Korea for the 2019 Association of Southeast Asian Nations-Republic of Korea (ASEAN-ROK) Commemorative Summit. (PND)