The incident occurred on March 7 in Malate, a major commercial district that is also home to Manila's Koreatown, according to Philippine media outlet GMA News and the Korean Embassy in the Philippines.
The victim was shot while resisting an attempted robbery and succumbed to his injuries after being transported to a hospital, Korea Herald reported.
CCTV footage showed him walking along a main road before entering an alleyway, where he was followed by four robbers on two motorcycles.
The suspects fled the scene shortly after the attack.
Philippine police are currently searching for the suspects.
The Philippines, which was named Asia’s leading beach destination at the World Travel Awards, welcomed 1.16 million foreign travelers in the first two months of the year, slightly more than the same period last year.
South Korea remained the top source of visitors to the Philippines, with 295,000 arrivals, accounting for 25% of all foreign tourists, according to Philstar.