Koreans Retiring in the Philippines
Koreans find the Philippines to be an inviting place to be in. Golfers and students, and now retirees, are flocking to the Pearl of the Orient.
Figures from the government’s retirement and tourism agencies showed that since 1987, 3,225 Koreans have availed themselves of the Philippine Retirement Authority’s special retiree program.
These “long-stays” commit to spend a part of their retirement money here in exchange for residency as well as a lower cost of living.
Over the past 20 years, at least 13 South Korean retirees a month have been moving to the Philippines.
South Koreans are the third largest retiree group in the country, after the Chinese (3,690 as of June 2007) and the Taiwanese (3,241).
Top reasons for Koreans to retire in the Philippines are the schools available for their children, and business opportunities.
Might the government take note and aim to attract more Filipino expats to come back home and retire in the Philippines?
via Inquirer.net
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