Marcos meets Korea firm on sub base building plans
BUSAN, South Korea—President Marcos moved a step closer to realizing the country’s long-envisioned submarine capability, with South Korean defense giant Hanwha Ocean offering to build a submarine base in the country.
The President met with executives of Hanwha on the sidelines of the Asia-Pacific Economic Cooperation summit here on Friday, and discussed the company’s proposal to support the Philippine Navy’s submarine acquisition and operations.
Under the plan, Hanwha Ocean offered to assist in the construction of a dedicated submarine base, the establishment of a local maintenance, repair, and overhaul center, and the training of Filipino submarine operators and commanders using advanced simulators and integrated systems.
The meeting marks a major step in Manila’s aspiration to acquire undersea warfare capability, a move seen as vital to bolstering the country’s defense amid escalating maritime tensions in the West Philippine Sea.
In February, Armed Forces of the Philippines chief Gen. Romeo Brawner Jr. said the military was keen on acquiring at least two submarines of the diesel-electric type as part of its modernization program.
“We have seen an increase also in the number of vessels in the West Philippine Sea on a daily basis. From 190 vessels in 2021, now we see 286 on the average daily for the year 2024,” Brawner said then.
Push for SMRs
Also on Friday, the President met with the DL Group, whose conglomerate subsidiary, DL E&C, is partnering with the Manila Electric Co. (Meralco) to push for small modular reactors (SMRs), which are compact nuclear reactors.
The government has been exploring this technology to meet its energy shortage. Meralco, for its part, has launched its Nuclear Strategic Transition program, with SMRs as a key component of its energy strategy.
Mr. Marcos also witnessed the signing of a supplemental agreement between the Philippine Economic Zone Authority and Samsung Electro-Mechanics Philippines Corporation on the company’s P50.7-billion expansion of its manufacturing operations in Calamba, Laguna, according to the Presidential Communications Office.
This project is expected to generate more than 3,000 new high-technology jobs for Filipino engineers and technicians.
‘Special friends’
During a bilateral meeting, Mr. Marcos and South Korean President Lee Jae-myung agreed to work closely together to facilitate the smooth operations of Korean companies in the Philippines.
The two leaders also agreed to further strengthen cooperation in the defense industry, shipbuilding and infrastructure.
“The two leaders shared the view that the Korea-Philippines Free Trade Agreement (FTA), which will mark the first anniversary of its entry into force later this year, has had a tangible impact in expanding economic cooperation between the two economies,” the Office of the President of the Republic of Korea said in a statement.
In their meeting, Lee described the Philippines and the Republic of Korea as “very special friends,” highlighting the Southeast Asian country’s assistance when they were in a national crisis.
Mr. Marcos, for his part, highlighted the importance of people-to-people exchanges and invited Lee to visit the Philippines next year.
“I fully agree and will visit at the earliest possible time,” Lee responded. —WITH A REPORT FROM PNA AND LUISA CABATO
