Marcos, S. Korean leader reaffirm strategic partnership
President Marcos spoke on the telephone for the first time with South Korean President Lee Jae-myung on Thursday, with both leaders pledging to support each other during two important international summits both countries will be hosting in coming months.
South Korea will be hosting the 2025 Asia-Pacific Economic Cooperation summit in Gyeongju from Oct. 31 to Nov. 1, the second time since 2005.
The Philippines, originally scheduled to host the 2027 summit of the Association of South East Asian Nations, was named chair in 2026 after Myanmar skipped its turn to host the bloc’s 49th summits.
The Presidential Communications Office (PCO) said in an official statement late Thursday that the two officials reaffirmed the strong and enduring relations between the two countries which resulted in a joint declaration of a strategic partnership last year.
Expansion points
“The two leaders reaffirmed their commitment to deepening the strategic partnership, emphasizing cooperation in key areas such as trade and investment, defense and security, and people-to-people ties,” the PCO statement read.
According to South Korea’s official Yonhap News Agency, presidential spokesperson Kang Yu-jung said the two leaders noted that South Korea has become the largest investor in, and the largest source of visitors to, the Philippines.
“The two leaders discussed expanding trade and investment based on the Korea-Philippines free trade agreement,” Kang said.
“They also discussed broadening the mutually beneficial cooperation, including Korean companies’ participation in the Philippines’ infrastructure projects, such as maritime bridges and railways, as well as the shipbuilding industry,” she added.
During the talks, Lee described the Philippines as a “long-standing ally” that was the first Asian nation to participate in the 1950-53 Korean War and sent the largest contingent among Asian countries.
The two countries’ bilateral relations have improved dramatically since ties were established in 1949, or 76 years ago.
In 2024, South Korea ranked as the Philippines’ fourth largest trading partner, fifth export destination and fourth biggest import source, with total bilateral trade reaching $13.2 billion, or around P750 billion.
