Yoon: "Establishing Strategic Partnership with the Philippines... Confirming Infinite Development Potential"

President Yoon Suk-yeol is making a joint press statement after concluding the South Korea-Philippines summit with Philippine President Ferdinand Marcos at the Malaca?ang Palace in Manila, Philippines, on the morning of the 7th (local time). [Image source=Yonhap News]

President Yoon Suk-yeol said on the 7th, "President Marcos and I have established a 'strategic partnership' between our two countries, opening a new chapter in Korea-Philippines relations."

During his state visit to the Philippines, President Yoon made this remark at a joint press conference following a summit meeting with President Ferdinand Marcos, stating, "Through this visit, we were able to confirm that the bilateral relationship holds infinite potential for development."

President Yoon said, "The two leaders focused on the importance of nuclear power as a carbon-free energy source, and with the signing of the 'Memorandum of Understanding (MOU) on the Feasibility Study for the Resumption of the Bataan Nuclear Power Plant,' we agreed to strengthen the foundation for nuclear cooperation between our countries."

On the same day, Korea Hydro & Nuclear Power and the Philippine Department of Energy signed the 'MOU on Cooperation for the Feasibility Study on the Resumption of Construction of the Bataan Nuclear Power Plant' in the presence of the two presidents.

The Bataan Nuclear Power Plant in the Philippines had its construction halted just before completion in 1986 due to the aftermath of the Chernobyl nuclear accident. However, President Marcos, who took office in 2022, decided to push for the operation of the Bataan plant to resolve the chronic power shortage. The Philippine government is seeking assistance from Korea, which has global competitiveness in nuclear power.

President Yoon stated, "We agreed to further activate economic cooperation between the two countries to promote practical cooperation that benefits the people of both nations," adding, "To this end, we will expedite the implementation of the Korea-Philippines Free Trade Agreement (FTA) signed last September to promote trade and investment between the two countries."

He continued, "The two governments signed an 'MOU on the Laguna Lake Circumferential Road and PGN Sea Bridge Construction Projects' and agreed to promote these projects using Korea's Economic Development Cooperation Fund (EDCF)."

He added, "These two projects are large-scale development cooperation projects with support amounts of approximately 1 billion dollars each, ranking first and second in scale among EDCF projects, and our companies are expected to play a pivotal role."

President Yoon Suk-yeol shakes hands with Philippine President Ferdinand Marcos after a joint press conference at the Malaca?ang Palace in Manila, Philippines, on the morning of the 7th (local time).
[Image source=Yonhap News]

The two leaders also reached a consensus on regional and international issues such as North Korea's nuclear program and the South China Sea.

President Yoon said, "President Marcos and I reaffirmed that the international community will never tolerate North Korea's nuclear development, reckless provocations, and illegal Russia-North Korea military cooperation, and we agreed to continue cooperating for North Korea's denuclearization and the faithful implementation of Security Council resolutions."

He also explained, "President Marcos expressed support for our 'August 15 Unification Doctrine,' and we shared the view that a unified Korean Peninsula based on freedom, peace, and prosperity will contribute to world peace and prosperity."

President Yoon said, "The two leaders also agreed on the importance of peace, stability, and security in the South China Sea, a key maritime route in the region," adding, "Our countries will continue to cooperate to establish a rules-based maritime order in the South China Sea and to ensure freedom of navigation and overflight in accordance with international law."

President Yoon stated, "The two countries will strengthen strategic cooperation in the security sector," and added, "We agreed to enhance defense cooperation, with Korea actively participating in the Philippines' 'Third Phase of Military Modernization Program.'"

He continued, "Through the 'Maritime Cooperation MOU' signed today, we will also strengthen maritime security cooperation such as responding to transnational maritime crimes, information exchange, and search and rescue operations."

This content was produced with the assistance of AI translation services.