President of the Philippines Ferdinand Marcos Jr. and Republic of Korea (ROK) President Lee Jae Myung agreed to broaden bilateral ties beyond trade and investment during summit talks in Malacañang on Tuesday (3 March). The discussions focused on strategic cooperation amid shifting global dynamics.
Ten Memorandums of Understanding (MOUs) were signed across sectors including defense, agriculture, trade, digital innovation, culture, and police cooperation. Key agreements cover:
• AI, digital technology, green energy, shipbuilding, and culture industry collaboration.
• Nuclear energy and critical minerals partnerships, including feasibility studies on Bataan Nuclear Power Plant and new nuclear projects.
• Expansion of trade, investment, and technology cooperation between Manila and Seoul.
• Joint commitment to uphold a rules-based international order, addressing regional security challenges in the South China Sea, Korean Peninsula, and the Middle East.
The Philippines aims to operationalise its first nuclear plants by 2032, targeting 4,800 MW capacity by 2050.
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