South Korea and the Philippines have moved to expand bilateral cooperation in shipbuilding , infrastructure and other strategic sectors, underscoring deepening economic ties between Seoul and Manila, officials said on Wednesday.
The announcements came during a state visit by South Korean President Lee Jae Myung to the Philippine capital, where he and President Ferdinand R. Marcos Jr. presided over a high-level business forum and witnessed the signing of multiple agreements between Korean and Filipino companies.
At the Philippines–South Korea Business Forum, representatives from the Philippine Chamber of Commerce and Industry and the Federation of Korean Industries signed accords covering several sectors including shipbuilding, nuclear energy, aerospace, critical minerals supply chains, retail and health and wellness.
A key focus of the cooperation is revitalising and expanding shipbuilding capacity. South Korean firms — long leaders in global ship construction — are poised to transfer technology and expertise to the Philippines, building on ongoing activities at facilities such as the Subic Bay shipyard.
President Marcos described the suite of business agreements as a sign of strong private-sector enthusiasm and a catalyst for future investments and job creation. “These agreements demonstrate the enthusiasm of our private sectors to deepen our strong economic relations and will ripple into significant partnerships,” he said.
Beyond economic cooperation, both leaders highlighted broader strategic ties. Seoul and Manila reaffirmed their commitment to a rules-based international order amid regional geopolitical uncertainties, and discussed expanding collaboration in areas such as defense, maritime security and technology.
The expanded cooperation builds on a growing partnership: South Korea is already among the Philippines’ top sources of investment and has participated in infrastructure development projects, while Korean companies operate major shipbuilding facilities in the country.
Analysts say the latest initiatives signal a new phase in Seoul–Manila ties, combining traditional infrastructure cooperation with strategic industrial collaboration that could strengthen economic and security links across the Indo-Pacific.
