The Korea Tourism Organization (KTO) announced the signing of a landmark Memorandum of Understanding (MOU) with four of the Philippines' leading financial institutions: BDO Unibank (BDO), Bank of the Philippine Islands (BPI), Metropolitan Bank & Trust Company (Metrobank) and Rizal Commercial Banking Corporation (RCBC).

This strategic partnership marks a significant milestone inthe celebration of the 75th year of diplomatic ties between the two countries.

The MOU was officially signed recently at the Makati Shangri-La, Manila, attended by KTO’s acting president YoungChoong Seo and key executives from the four banks.

This collaboration aims to promote the simplified visa application program of the Korean Embassy in the Philippines for the eligible bank credit card holders; and leverage the banks' extensive networks to drive greater awareness and interest in South Korea as a premier travel destination.

The MOU represents a shared vision of expanding tourism and cultural understanding, offering Filipino travelers a seamless visa application process, and new opportunities to explore and experience the rich heritage, modern attractions, and natural beauty of South Korea.