Korea-Philippines Summit Establishes 'Strategic Partnership'

During a state visit to the Philippines, President Yoon Suk Yeol held a summit with Philippine President Marcos and established a "strategic partnership" between South Korea and the Philippines.

The two countries decided to increase strategic cooperation in security areas such as defense, defense, and maritime, and expand mutually beneficial economic cooperation that the people of the two countries can feel.

To this end, we plan to expand the participation of Korean companies in various infrastructure projects being pursued by the Philippines, including supporting road and bridge construction projects using Korea's Foreign Economic Cooperation Fund and EDCF.

In addition, they signed an MOU on the feasibility of reopening the Batan nuclear power plant in the Philippines to lay the foundation for nuclear cooperation between the two countries and expand sustainable growth engines through future-oriented cooperation such as energy and digital transformation.

In addition, they agreed that they would not tolerate North Korea's nuclear development and reckless provocations, and agreed to closely consult to ensure the safety of South Koreans staying in the Philippines.