S. Korea, Philippines agree to expand defense industry, nuclear power cooperation
Baku, March 4, AZERTAC
South Korean President Lee Jae Myung and Philippine President Ferdinand Marcos Jr. on Tuesday agreed to strengthen bilateral economic cooperation in areas including artificial intelligence (AI), the defense industry, nuclear energy and critical minerals during their summit talks, according to Kyodo News.
Lee underscored the importance of expanding bilateral ties beyond trade and investment into promising new sectors and stepping up cooperation amid a shifting international order during the talks held in Manila amid the widening conflict in the Middle East.
"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 in opening remarks.
"Promising areas, including AI, digital technology, green energy, shipbuilding and the culture industry, are fields where both countries can work together," he added.
South Korea is one of the Philippines' major economic partners, with a bilateral free trade deal taking effect in 2024.
In a joint press announcement, Lee said the two countries agreed to expand practical cooperation in the nuclear energy and critical minerals sectors.
Lee said South Korea could be an "ideal partner" for the Philippines' bid to include nuclear power in its energy mix, based on previous agreements on a joint feasibility study of the long-dormant Bataan nuclear power plant and the construction of a new nuclear facility.
The plant on the Bataan Peninsula, about 100 kilometers west of Manila, was completed in 1986 but was never activated due to safety concerns following the Chernobyl nuclear disaster that occurred the same year.
The state-run Korea Hydro & Nuclear Power Co. (KHNP) has been conducting a feasibility study to assess whether the facility can be safely used, while also reviewing the potential deployment of small modular reactors as part of the Philippines' energy mix.
Critical minerals were another area in which South Korea seeks to work with the Philippines, amid rising uncertainty in global supply chains.
"The two countries are ideal partners for each other, given Korea's advanced technologies and the Philippines' abundant mineral resources," he said.
Lee expressed hope to build on the momentum of closer bilateral ties to contribute to South Korea's deepening relations with the Association of Southeast Asian Nations, a major trading partner.
"The two countries will be valuable partners in tackling challenges amid an era of geopolitical uncertainty and intense global technological competition," he said.
To support closer cooperation, the two nations signed nine memorandums of understanding (MOUs) to boost collaboration in areas including AI, the defense industry, transnational crime responses and cultural exchanges.
Under the agreements, Seoul and Manila agreed to pursue joint research in AI, infrastructure and cybersecurity and to establish a joint consultation body.
The two sides also signed an amended defense procurement deal to allow more South Korean companies to contract with the Philippine government and to add provisions on weapons maintenance, logistics support and financial assistance.
Police agencies from both countries signed an MOU to expand cooperation beyond the current criminal investigations and establish hotlines to combat transnational crime.
The two nations also agreed to step up support for Filipino veterans and enhance people-to-people exchanges in the culture, entertainment and education sectors.
The Philippines was the first Southeast Asian nation to establish diplomatic relations with South Korea and sent the first and largest contingent of 7,420 troops to support Seoul during the Korean War in 1950.
In addition, seven MOUs on cooperation in shipbuilding, nuclear power, food and medical equipment will be signed on the occasion of a bilateral business forum slated for Wednesday, according to Cheong Wa Dae.
They include an MOU on a joint business model for a new nuclear power project and shipbuilding industry technology cooperation.
Marcos highlighted cooperation on large-scale infrastructure projects and expressed hope for South Korea's prompt participation in the Panay-Guimaras-Negros bridge project, which will connect the three central Philippine islands of Panay, Guimaras and Negros.
The Philippine president also noted deepening collaboration in maritime security and the defense industry based on "mutual trust" amid the changing international order, expressing hope to advance strategic cooperation.
It marked Lee's second summit with Marcos following their first meeting on the sidelines of the Asia-Pacific Economic Cooperation summit in late October.
South Korea and the Philippines forged diplomatic ties on March 3, 1949, making the summit coincide with the anniversary of diplomatic relations.
Tuesday's talks also covered escalating tensions in the Middle East following the U.S.-Israeli joint strikes on Iran.
"We discussed situations in the region and the Middle East, and expressed hope for the prompt restoration of peace and stability in the Middle East," Lee said.
Lee thanked Marcos for supporting Seoul's efforts to resume talks with Pyongyang, saying they agreed to continue efforts to promote regional peace and stability as "long-time allies" and "strategic partners."
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