^{Photo credit: PCO}

Philippine and South Korean companies signed key agreements on Wednesday aimed at expanding economic cooperation in strategic sectors, including nuclear energy, shipbuilding, aerospace, and critical minerals.

According the Presidential Communications Office, the deals were formalized during the Philippines–Korea Business Forum at Conrad Hotel in Pasay City, attended by President Ferdinand R. Marcos Jr. and South Korean President Lee Jae Myung. Other sectors covered in the agreements include retail and health and wellness.

President Marcos said the agreements underscore the private sector’s role in deepening the Philippines’ economic ties with South Korea. “All of these will ripple into significant partnerships that will generate projects, investments, and of course, livelihood,” he said, referring to business leaders from both countries. 

He highlighted President Lee’s presence as proof of Seoul’s commitment to expanding cooperation with Manila. “We are grateful to the Republic of Korea for being a steadfast partner in this journey. Because of the confidence that you have placed in our country, foreign direct investments have grown through the decades,” Marcos said.

The President said that the agreements build on a long-standing relationship rooted in respect, cultural exchange, and sustained economic collaboration. “

“In a rapidly changing world, resilience is built not in isolation, but in partnership,” he added, expressing confidence that the deals will help both nations secure a competitive and self-sustaining future.

Marcos also assured investors that his administration is implementing economic reforms to strengthen investor confidence, improve ease of doing business, and promote inclusive growth. He acknowledged the role of the Philippine Chamber of Commerce and Industry and the Federation of Korean Industries in facilitating closer ties between business leaders from both countries.

“Your collaboration exemplifies the very partnership that we seek to cultivate—one grounded in initiative, in coordination, and in purpose,” the President said. 

How do you think these new agreements with South Korea will shape the Philippines’ energy and industrial landscape in the coming years?

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