Manila: President Lee Jae Myung held summit talks with Philippine President Ferdinand Marcos Jr. to discuss ways to strengthen economic cooperation in areas including artificial intelligence (AI), the defense industry, and infrastructure.
According to Yonhap News Agency, Lee emphasized the importance of expanding bilateral ties beyond trade and investment into promising new sectors and stepping up cooperation amid a shifting international order. The talks took place in Manila against the backdrop of the widening conflict in the Middle East.
Lee highlighted the cooperative relations between the two countries in various domains such as trade, investment, the defense industry, infrastructure, and development. He noted that they are on the verge of expanding the scope of their cooperation into areas like AI, digital technology, green energy, shipbuilding, and the culture industry.
South Korea is one of the Philippines' significant economic partners, and a bilateral free trade deal between the two countries is set to take effect in 2024. Lee expressed a desire to build upon the momentum of closer bilateral ties to contribute to South Korea's deepening relations with the Association of Southeast Asian Nations, which is a major trading partner.
Lee stated that the two countries will be valuable partners in addressing challenges amid an era of geopolitical uncertainty and intense global technological competition. President Marcos underscored cooperation on large-scale infrastructure projects and expressed hope for South Korea's prompt participation in the Panay-Guimaras-Negros bridge project, which aims to connect the three central Philippine islands of Panay, Guimaras, and Negros.
Marcos also noted the deepening collaboration in maritime security and the defense industry, rooted in "mutual trust" amid the changing international order, and expressed hope for advancing strategic cooperation.
This summit marked Lee's second meeting with Marcos, following their first encounter on the sidelines of the Asia-Pacific Economic Cooperation summit in late October. South Korea and the Philippines established diplomatic ties on March 3, 1949, making the summit coincide with the anniversary of diplomatic relations. The Philippines was the first Southeast Asian nation with which South Korea established diplomatic relations and the first Asian country to send troops to support Seoul during the 1950-53 Korean War.