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S. Korea, Philippines Forge Deeper Ties Across Different Sectors
(MENAFN) South Korean President Lee Jae Myung and Philippine President Ferdinand Marcos Jr. signed a sweeping set of memoranda of understanding (MoUs) on Tuesday, deepening bilateral cooperation across high-stakes sectors including artificial intelligence, nuclear energy, and defense — signaling a strategic pivot as the global order rapidly shifts.
Marcos welcomed Lee to Manila for high-level talks, with the Philippines steering this year's Association of Southeast Asian Nations (ASEAN) agenda as chair, and Seoul intensifying its diplomatic outreach across the Southeast Asian region.
In remarks relayed by a South Korean news agency, Lee stressed the urgency of broadening the two nations' relationship well beyond its traditional trade and investment foundations.
"The two countries have developed cooperative relations in various areas, including trade, investment, the defense industry, infrastructure, and development and now stand on the threshold of expanding the scope of cooperation," Lee said.
"Promising areas, including AI, digital technology, green energy, shipbuilding, and the culture industry, are fields where both countries can work together," he added.
The two economies share a strong foundational link, underpinned by a bilateral free trade agreement that entered into force in 2024. In a joint press statement, Lee outlined freshly agreed priorities in nuclear energy and critical minerals.
"The two countries will be valuable partners in tackling challenges amid an era of geopolitical uncertainty and intense global technological competition," he said.
Marcos, for his part, confirmed the conclusion of multiple agreements spanning a broad policy spectrum. "defense materials procurement, veterans affairs, agriculture, trade, investment and economic cooperation, intellectual property, and digital cooperation," the Philippine leader detailed among the concluded deals.
"I express once again my heartfelt thanks to President Lee and his delegation for this very fruitful visit," Marcos was quoted by a news agency as saying.
Altogether, the two sides formalized 10 MoUs targeting AI advancement, defense sector collaboration, efforts against transnational crime, and cultural exchanges, alongside an amended defense procurement arrangement designed to open wider contracting opportunities for South Korean firms with the Philippine government.
A further seven MoUs — covering shipbuilding, nuclear energy, food, and medical equipment — are expected to be finalized during a bilateral business forum slated for Wednesday, pointing to an even deeper integration of the two nations' economic and strategic ties.
Marcos welcomed Lee to Manila for high-level talks, with the Philippines steering this year's Association of Southeast Asian Nations (ASEAN) agenda as chair, and Seoul intensifying its diplomatic outreach across the Southeast Asian region.
In remarks relayed by a South Korean news agency, Lee stressed the urgency of broadening the two nations' relationship well beyond its traditional trade and investment foundations.
"The two countries have developed cooperative relations in various areas, including trade, investment, the defense industry, infrastructure, and development and now stand on the threshold of expanding the scope of cooperation," Lee said.
"Promising areas, including AI, digital technology, green energy, shipbuilding, and the culture industry, are fields where both countries can work together," he added.
The two economies share a strong foundational link, underpinned by a bilateral free trade agreement that entered into force in 2024. In a joint press statement, Lee outlined freshly agreed priorities in nuclear energy and critical minerals.
"The two countries will be valuable partners in tackling challenges amid an era of geopolitical uncertainty and intense global technological competition," he said.
Marcos, for his part, confirmed the conclusion of multiple agreements spanning a broad policy spectrum. "defense materials procurement, veterans affairs, agriculture, trade, investment and economic cooperation, intellectual property, and digital cooperation," the Philippine leader detailed among the concluded deals.
"I express once again my heartfelt thanks to President Lee and his delegation for this very fruitful visit," Marcos was quoted by a news agency as saying.
Altogether, the two sides formalized 10 MoUs targeting AI advancement, defense sector collaboration, efforts against transnational crime, and cultural exchanges, alongside an amended defense procurement arrangement designed to open wider contracting opportunities for South Korean firms with the Philippine government.
A further seven MoUs — covering shipbuilding, nuclear energy, food, and medical equipment — are expected to be finalized during a bilateral business forum slated for Wednesday, pointing to an even deeper integration of the two nations' economic and strategic ties.
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