Following $16 million in consumer goods export deals and seven MOUs signed earlier in the visit, Philippine and South Korean firms inked additional agreements at a forum attended by Presidents Ferdinand Marcos Jr. and Lee Jae-myung on March 4. Marcos highlighted partnerships in shipbuilding, nuclear energy, aerospace, critical minerals, supply chain, retail, and health sectors as key to economic ties.
At the Philippines-Korea Business Forum—part of President Lee Jae-myung's state visit—President Ferdinand Marcos Jr. welcomed Korean firms' enthusiasm for deepening economic relations with the Philippines. Building on prior announcements of consumer goods exports and MOUs in areas like nuclear power and shipbuilding, the new agreements span shipbuilding, nuclear energy, aerospace, critical minerals, supply chain and retail, and health and wellness.
'These agreements will lead to significant partnerships that generate projects, investments, and livelihoods. To our partners from Korea: Your investment in the Philippines is a strategic and forward-looking decision,' Marcos stated.
Marcos assured Korean leaders of government support via reforms like the CREATE MORE Act, the Capital Markets Efficiency Promotion Act, the Amended Foreign Investments Act, and the Amended Retail Trade Liberalization Act. 'Together, these measures form a coherent strategy to build a dynamic, inclusive, and resilient economy,' he added.
The forum contributed to at least 10 total deals secured during the visit, including those on trade and defense, marking a key highlight before Lee Jae-myung's departure.
