By Brian Campued
The Philippines and South Korea have signed several key agreements on Monday as President Ferdinand R. Marcos Jr. and President Yoon Suk Yeol agreed to level up their ties into a “strategic partnership” during the latter’s two-day state visit to Manila.
The two leaders witnessed the signing of memorandums following their bilateral meeting in Malacañang, which are as follows:
- Memorandum of Understanding (MOU) between the Philippine Coast Guard and the Korea Coast Guard on Maritime Cooperation, which seeks to strengthen mutual understanding and trust while promoting the preservation and protection of shared maritime interests, including order and safety in the Asia-Pacific region;
- MOU on the Economic Innovation Partnership Program (EIPP), which establishes a framework for bilateral cooperation aimed at advancing national, regional, and urban development in the Philippines;
- MOU for Strategic Cooperation on Critical Raw Material Supply Chains, designed to foster collaboration in the establishment of supply chains for critical raw materials between the two nations;
- MOU on the Feasibility Study of Bataan Nuclear Power Plant (BNPP) to continue the progress on BNPP rehabilitation, which is envisioned to enhance the country’s energy security;
- Loan Agreement on Samar Coastal Road II Project and MOU on the Laguna Lakeshore Road Network Project Phase I (Stage I) and the Panay-Guimaras-Negros Island Bridges Project; and
- The Implementation Program of the MOU between the Department of Tourism and the Ministry of Culture, Sports, and Tourism of the Republic of Korea for 2024-2029.
In a joint press conference, President Marcos said the two nations’ ties spanning decades have developed into a “comprehensive partnership” that spans political, defense, economic, socio-cultural, maritime, among other fields, across various levels of engagement.
Marcos said the elevated partnership between the Philippines and South Korea will bring “further impetus to the strengthening and deepening” of their cooperation in an increasingly complex geopolitical and economic environment.
“We agreed that we have made significant strides in advancing and deepening our bilateral cooperation towards the attainment of our mutually beneficial goals,” Marcos said.
The two leaders’ meeting covered several areas of cooperation, including defense and security, maritime cooperation, economic and development cooperation, and people-to-people exchanges.
“This idea must be as concrete as the foundation from which our bilateral relationships stand. As the geopolitical environment is only becoming more complex, we must work together to achieve prosperity for our people and to promote a rules-based order governed by international law, including the 1982 UNCLOS and the binding 2016 Arbitral Award,” the Chief Executive said.
The South Korean president, meanwhile, expressed his gratitude to Marcos and First Lady Liza Araneta-Marcos and the Filipino people for warmly welcoming him, his wife, First Lady Kim Keon Hee, and his delegation as he acknowledged the significance of the strategic partnership.
“Based on the special bond forged in blood, our two countries have closely cooperated over the past 75 years, and today, we are elevating our relationship to a strategic partnership which will bring our cooperation to a higher level,” Yoon told Marcos.
“I hope that my state visit will serve as an opportunity to not only further enhance our trade and economic cooperation but also widen the scope of our partnership to include future-oriented sectors such as security, digital technology, and energy,” he added.
Yoon’s state visit coincides with the celebration of the 75th anniversary of the establishment of the bilateral relations of South Korea and the Philippines, which was established on March 3, 1949. (with report from Clay Pardilla/PTV News)
—avds