Philippines, South Korea enter consumer protection deal
The Department of Trade and Industry (DTI) has signed a memorandum of understanding with the Korea Consumer Agency for greater cooperation in the area of consumer protection which is seen benefiting consumers in the Philippines and South Korea.
Trade Undersecretary Ruth Castello, who heads the department’s consumer protection group, said on Saturday the deal would enhance cross-border consumer protection and address complaints of consumers in the Philippines and South Korea concerning products from both countries.
Castelo said that with the DTI’s online dispute resolution system, it can now engage with the South Korean agency on cases where Filipino consumers have complaints about sellers or products from the East Asian country.
The DTI official added that with the agreement, cases like this would be resolved faster.
The Korea Consumer Agency is the East Asian country’s government body tasked with consumer protection. But unlike the DTI’s consumer protection group, it is a department or ministry level government agency.
“Because Korea is probably more advanced in their technology and systems, their ways may not be being practiced here yet. So, there will be sharing of talents, skills, and building capabilities for the Philippines,” she said.
Castelo said it was a good development for the Philippines and South Korea to have this cross-border consumer protection as it was an issue that wasn’t a major focus in the past.
Cross-border consumer protection is among the key measures being discussed among the Association of Southeast Asian Nations (Asean), which includes the Philippines as a member.
The trade official said that officials from the Korea Consumer Agency initiated the partnership that eventually led to the signing of this agreement.
This partnership is the latest deal between the Philippines and South Korea, with a free trade agreement (FTA) eyed to be signed early next year.
Last month, Trade Undersecretary Ceferino Rodolfo said they were looking to have the free trade agreement signed next year, which is seen benefitting the Philippines’ banana and processed pineapple exporters.
Rodolfo said that these exported goods are currently levied a 30-percent import duty in South Korea, a tax rate that will gradually decline to zero in the fifth year of the FTA.
