South Korea is seeking deeper cooperation with the Philippines in energy, infrastructure and manufacturing, President Lee Jae Myung said on Wednesday, highlighting opportunities for Korean companies as Manila accelerates major development projects.
Speaking at the Korea-Philippines Business Forum attended by Philippine President Ferdinand Marcos Jr. and about 250 business leaders and officials, Lee said the two countries could expand collaboration in sectors ranging from nuclear power and renewable energy to shipbuilding and advanced manufacturing.
The Philippines is working to introduce commercial nuclear power by 2032 and expand renewable energy such as solar, Lee said, adding that Korea’s nuclear technology and clean-energy capabilities could help support the country’s transition to a more stable and environmentally sustainable power system.
Lee also pointed to infrastructure modernization in the Philippines, including projects under the Marcos administration’s “Build Better More” program and the Luzon Economic Corridor initiative, where Korean companies are already participating.
The two countries could also deepen manufacturing cooperation by leveraging complementary strengths, Lee said, noting the Philippines’ reserves of critical minerals such as nickel and cobalt and Korea’s advanced manufacturing expertise in industries including semiconductors and electronics.
He cited shipbuilding operations at the Subic shipyard by HD Hyundai Heavy Industries as an example of growing industrial collaboration.
Marcos, speaking at the forum, said stronger partnerships would help both economies remain competitive and resilient in a rapidly changing global environment.
InfraCapitalAsia.com
