President Lee Jae Myung held a summit on the afternoon of March 3 with Philippine President Ferdinand Romualdez Marcos Jr. at Malacañang Palace in Manila, engaging in in-depth discussions on ways to advance the strategic partnership between the two countries and on major regional and international developments.

President Marcos welcomed President Lee to the Philippines, expressing particular pleasure at receiving him as the first state guest to visit the Philippines this year. President Lee said he was honored to hold the meeting on March 3—the 77th anniversary of the establishment of diplomatic relations between Korea and the Philippines, the first Southeast Asian nation to recognize the government of the Republic of Korea.

The two leaders agreed to further deepen and expand mutually beneficial practical cooperation across a wide range of fields, including trade and investment, defense and the defense industry, infrastructure, shipbuilding, nuclear energy, supply chains, AI and digital technology, and consular affairs. On the occasion of this summit, a total of ten agreements and MOUs were signed between the two sides, establishing an institutional foundation for implementation of cooperation across these areas.

On trade and investment, the two leaders agreed that close economic solidarity between the two countries is essential amid uncertainty in the global trade environment, and pledged to work together to expand bilateral trade and investment based on the newly signed MOUs on Trade, Investment and Economic Cooperation; Agricultural Cooperation; and Intellectual Property Cooperation.

President Marcos pledged to actively support the smooth business operations of Korean companies in the Philippines, while President Lee expressed hope that Korean companies would expand their presence in the Philippines under President Marcos's proactive policies to attract investment, and requested President Marcos's particular attention and support in resolving difficulties faced by Korean businesses.

Both leaders expressed high regard for the substantial and mutually beneficial cooperation the two countries have achieved in the infrastructure sector. President Lee expressed his support for and commitment to actively participating in President Marcos's infrastructure policy, to which President Marcos responded by expressing hope that more top-tier Korean companies would participate in Philippine infrastructure projects.

In the defense industry sector, an implementing arrangement on the procurement of specific defense articles between the Korean and Philippine governments was revised on the occasion of this summit. This revision expands the number of Korean defense companies eligible to enter into contracts directly with the Philippine Department of National Defense, enabling more capable Korean defense firms to participate more actively in the Philippine military modernization program.

The two leaders agreed to expand cooperation in promising future sectors including shipbuilding, nuclear energy, and critical minerals. President Lee recalled Korea's investment in the Subic shipyard as a concrete example of participation in President Marcos's shipbuilding promotion policy, and requested President Marcos's continued attention and support.

With regard to the Philippines' formal commitment to introducing nuclear power by 2032, the two leaders agreed to pursue expanded concrete cooperation—including in nuclear workforce development—based on the MOU on Cooperation for the Introduction of New Nuclear Power Plants in the Philippines signed during this visit. Through the Critical Minerals Cooperation MOU, the two sides also agreed to pursue cooperation combining the Philippines' abundant critical mineral reserves with Korea's advanced technological capabilities, establishing the foundation for a mutually beneficial and stable supply chain between the two countries.

President Lee also shared Korea's vision for realizing a "Global AI-Based Society." The two leaders agreed to expand cooperation in support of the Philippines' digital transformation and Korea's vision of becoming one of the world's top three AI powers, based on the newly signed MOUs on Digital Cooperation and on Technology, Digital and Innovation Development Cooperation. President Lee also expressed Korea's intention to contribute actively to AI utilization—a priority area for the Philippines as this year's ASEAN chair—through initiatives such as the Korea-ASEAN Digital Academy program.

Both leaders agreed that vibrant cultural, educational, and people-to-people exchanges serve as a vital bridge connecting the two countries, and pledged to actively support further expansion of the approximately 1.9 million mutual visits currently taking place annually. President Lee expressed gratitude for the Philippine government's efforts to protect Korean nationals, including the establishment of a Korean Help Desk, and commended the practical foundation for cooperation in protecting Korean nationals overseas established through the revision of the Police Cooperation MOU, which expands the scope of police cooperation to include collaboration on countering transnational crime.

President Lee affirmed Korea's commitment to actively supporting and cooperating with the Philippines' ASEAN chairmanship this year, expressing hope to give more concrete shape during the Philippines' tenure to the CSP cooperation vision for ASEAN articulated at last year's Korea-ASEAN Summit: to be "a facilitator of dreams and hopes, a launchpad for growth and innovation, and a partner for peace and stability."

The two leaders also exchanged views on major regional and international issues. They shared the view that peace on the Korean Peninsula contributes to stability and prosperity not only in the region but in the international community at large. President Lee briefed President Marcos on the Korean government's efforts to resume inter-Korean dialogue and requested the Philippines' support and cooperation. Both leaders also shared concerns about the impact of recent Middle East developments on regional security and the economy, and agreed on the need for the swift restoration of stability and peace in the Middle East.

President Lee's state visit to the Philippines is assessed as a significant opportunity to further strengthen political and economic solidarity and cooperation with the Philippines, a key regional partner. In particular, by solidifying the foundation for cooperation with the Philippines—a rapidly growing young nation of 110 million people—in new growth sectors such as defense, shipbuilding, nuclear energy, and supply chains, the visit is expected to pave the way for expanded mutual cooperation between the two countries going forward.

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Cheong Wa Dae press release translated by AI, edited by David Kendall