Korean retiree Kim In-duk looks at the view of the Makati business district from his office. /Korea Times Photos by Cathy Garcia

He carefully weighed his options: stay in Korea or move to another country. Like many Koreans, he was worried his pension would be insufficient to ensure a comfortable life in Seoul, which has become increasingly expensive.

Kim, who worked as his Seoul-based company’s representative to Southeast Asia for decades, considered retiring in various countries like Thailand, Malaysia, Palau and Guam. He eventually decided to settle in the Philippines.

“I have been working as the Southeast Asian representative of my company for many years, so I knew a lot about the countries. I have compared the living conditions for retirement in Korea with the Philippines. In my opinion, the living conditions in the Philippines are better than in Korea,” he told The Korea Times.

Dressed in light cotton traditional Philippine clothing called “barong,” Kim appeared relaxed while being interviewed at his office in a high-rise building just a short walk from the Makati City central business district.

“Here, there is always good weather. For me, it is not too cold or too hot. During the rainy season, the temperatures are lower so it is good. The Filipino people are very kind and helpful to foreigners,” Kim said.

In 2000, Kim applied for a Philippines’ special resident retiree visa (SRRV), which gives foreigners the option of permanent residency, multiple-entry visa or an indefinite stay in the tropical country.

Philippines Targets Koreans For the past three decades, the Philippine government has been promoting the country as a retirement haven for foreigners. However, it is only in the last few years they have actively sought Korean retirees.

Relying on its tropical weather, friendly people and low cost of living, the Philippines is touting itself as Asia’s retirement haven to attract foreigners, especially Chinese, Japanese, Koreans, Americans and Europeans.

Philippine Retirement Authority (PRA) chairman Edgar Aglipay said the government is now focusing on the Korean market because of the sheer volume of Koreans visiting the Philippines.

According to the Philippine tourism department, Koreans make up nearly 20 percent of tourists to the Philippines. From January to April 2006, 183,883 Korean tourists arrived in the country, a 10 percent increase from last year.

“We have realized there are now more Koreans in our country than Filipinos in Korea. The Koreans already know what we have and they like what we have, it is inherent in us that we welcome them. There is a mutual respect and love for each other. We thought it would be good to start with the Koreans,” Aglipay said.

With beach resorts in Boracay, Cebu, Palawan always filled with Korean tourists, the Philippines’ popularity as a leisure destination is undeniable. A Filipino resort owner said there are more Korean tourists in Boracay than Filipinos during summer.

The main attractions for Koreans traveling to the Philippines are the warm weather, low cost of living, good business opportunities and English-language education.

PRA general manager Nelson P. Collantes said the Philippines’ cost of living is significantly lower than South Korea. While Seoul continues to rank as one of the most expensive cities in the world, Manila has consistently been ranked as one of the least expensive.

Living on two million won a month for Korean retirees in Seoul would be difficult. However, 2 million won converted into Philippine pesos or roughly P110,000 (U.S. $2,075) would make for easy living in the Phillipines.

For instance, a sizeable house in a gated community or a posh condominium can be rented for P20,000 to P30,000 a month (370,000 to 550,000 Korean won). For that money, the retirees can also have a car, a driver, amaid, send their children to a good school, and be able to live comfortably.

“Most of the Korean retirees are happy to live here. They can play golf every day and afford it, unlike in Korea,” Collantes said.

There are plans to build a retirement village specifically for Koreans. A Korean property developer is currently constructing the Silvertown Retirement Village, which will have medical facilities, leisure facilities, shops, schools and churches.

The process of applying for the special resident retiree’s visa is relatively easy. You can download application forms from the PRA Web site (www.pra.gov.ph). The Web site, which is in English, includes information on the documentary requirements for the application.

The applicant must be a foreign national at least 35 years old. There is a cash deposit requirement of $75,000 for those aged 35 to 49, and $50,000 for those aged 50 and above.

With the visa, the retiree can purchase a high-rise apartment unit; acquire a long-term lease on a house or property; buy golf or club share; and buy shares on the Philippine stock market.

An important benefit for some retirees is they are able to send their children to Philippine schools, where the primary language of instruction is English.

There is no need to get the special study permit for foreign students.

“After they get the visa, they can enter the country without paying the travel tax. They can work, study and, their children can come here and study. The Koreans can do almost everything except buy land and vote in the elections,” Aglipay said.

Koreatown Koreans living in the Philippines should not get homesick as “Koreatowns” pop up all over the country.

One of the most well-known is in Barangay Poblacion in Makati.

Here, there are dozens of Korean restaurants, noraebangs, PC bangs, churches, schools and supermarkets selling instant ramyon and kimchi. Even some Filipino-owned stores have signs written in Korean.

Jomar Perez, a taxi driver living in Poblacion, said he gets confused with the many store signs written in English and Korean, but found it amusing that so many Koreans live in the area.

Aside from Makati, many Korean retirees also choose to settle in quieter provincial cities such as Clark, Subic, Davao and Baguio -- a mountain-top city nearly seven hours drive from Manila. Baguio has proven popular because of its relatively cooler temperatures compared to the rest of the country.

Kim said he doesn’t get homesick for Korea, although his wife loves to go back to Seoul for the cold, winter weather. “We always make plans for vacation to Korea. I like going back during spring, but my wife loves the snow season,” he said.

Kim does not have any plans to live again in South Korea, saying he is content with his life in Manila. He is literally the poster boy for the Philippine retirement program, since his face is displayed in pamphlets written in Korean, and distributed around South Korea.