And yes, those are your options. Though IMO I think you shouldn't wait 2+ years just to pursue Option 1 with N-600K. I believe N600K does not freeze the beneficiary's age so it's possible he can age out before the it's adjudicated, even if it's timely filed.
Go with option 2 and file the I-130, which freezes age until 21. Depending on the circumstance, you could also have both in the pipeline when you relocate to Philippines.