President Ferdinand R. Marcos Jr. and South Korean President Lee Jae-myung on Tuesday, March 4, witnessed the signing of 10 key agreements aimed at strengthening bilateral cooperation, as both leaders reaffirmed their commitment to advancing the Philippines–Republic of Korea strategic partnership.
The agreements span digital cooperation, defense procurement, agriculture, trade and investment, intellectual property, cultural and education exchanges, veterans affairs, and police collaboration. Among those signed were memoranda of understanding on digital cooperation, reinforced intellectual property protection, agricultural development, and expanded police coordination against transnational crime.
In a joint press statement at Malacañang, Marcos said the two countries have “made significant strides in advancing and deepening our bilateral cooperation towards the attainment of our mutually beneficial goals.”
“We acknowledge the efforts of both sides to enhance bilateral trade and investment, and we look forward to realizing the full potential of the Philippine–Republic of Korea Free Trade Agreement for the benefit of both our peoples,” he said.
Marcos also expressed appreciation for Seoul’s support in modernizing the Armed Forces of the Philippines (AFP) and strengthening the Philippine Coast Guard (PCG).
“We concluded a number of agreements in the field of defense materials procurement, veterans affairs, agriculture, trade, investment, and economic cooperation… which will sustain the momentum of the Philippines–Republic of Korea Strategic Partnership for the future,” Marcos added.
For his part, Lee underscored the rapid growth in economic ties between the two nations following the implementation of the free trade agreement in 2024.
“Since the entry into force of the Korea–Philippines Free Trade Agreement in 2024, Korean investments in the Philippines have increased by over five times,” Lee said, noting an upward trend in bilateral trade and investment.
He added that both countries agreed to deepen cooperation in infrastructure and defense industries, with Korea supporting the modernization of the Philippine military.
“I will continue to support Korean defense industry firms so they may actively participate in modernization projects of the Philippine military,” Lee said.
Lee also highlighted emerging areas of collaboration, including shipbuilding, nuclear power, artificial intelligence, digital transformation, and critical mineral supply chains.
“Through expanded cooperation in shipbuilding, we look forward to creating synergistic effects that will enhance the competitiveness of the two countries,” he said.
People-to-people ties were likewise emphasized, with Lee noting that 1.35 million Koreans visited the Philippines last year, while 610,000 Filipinos traveled to Korea—the highest among ASEAN countries.
“Vibrant cultural and people-to-people exchanges are the valuable bridges that connect our two countries,” he said.
This year marks the 77th anniversary of diplomatic relations between the Philippines and South Korea. Both leaders reaffirmed their commitment to peace and stability in the region, pledging to uphold a rules-based international order and strengthen cooperation amid evolving global security and economic challenges.
