What is the dividend withholding rate between South Korea and Philippines?

Under the South Korea-Philippines tax treaty, the withholding rate on dividends is 25% for portfolio investors (general rate). A reduced rate of 10% applies when the beneficial owner is a company holding a qualifying ownership stake (typically 10% or more of voting stock). Note that the reduced rate requires the recipient to file the appropriate treaty benefit claim form before payment. This 25% rate compares to a median of 15% across South Korea's 48 active treaty partners, and 15% across Philippines's 28 active partners.