South Korea, Philippines deepen security, economic relations

During the two leaders’ bilateral meeting, several agreements were reached, focusing on defense cooperation.

Multiple Memoranda of Understanding between the Philippines and the Republic of Korean were signed at the Malacañan Palace on March 3, 2026 during the State Visit of His Excellency President Lee Jae Myung. Photo from PCO.

Manuel Mogato | March 5, 2026

Manila — President Ferdinand Marcos Jr and visiting South Korean leader Lee Jae Myung signed several bilateral agreements, deepening security and economic relations, particularly in shipbuilding and nuclear energy.

The two leaders also discussed geopolitical risks as the Middle East conflict escalates and spreads, threatening global oil supply and the safety of millions of Filipino workers. The situation in the South China Sea was also discussed.

“We hope that peace and stability in the Middle East may be restored at an early date,” Lee told a news conference..

“We both recognized the growing uncertainty in geopolitical developments, which is why we agreed on the need to firmly and consistently uphold a rules-based order governed by international law, including in the maritime domain,” Marcos added.

During the two leaders’ bilateral meeting, several agreements were reached, focusing on defense cooperation.

“We have concluded a number of agreements, which will sustain the momentum of the Philippines-ROK Strategic Partnership for the future,” Marcos told a news conference after a high-level meeting at the presidential palace.

Marcos said the agreements cover the fields of defense materials procurement, veterans affairs, agriculture, trade, investment and economic cooperation, intellectual property, digital cooperation, digitalization and innovation, Korean language training in schools, cultural cooperation, and police cooperation.

Lee was on a two-day visit to Manila after a trip to Singapore, promoting South Korea’s trade and investment in Southeast Asia.

The Presidential Communications Office said several agreements in shipbuilding, nuclear power, food and medical equipment were signed during the Philippines-Korea Business Forum.

The Philippines sourced most of its defense equipment from South Korea, such as light fighters, guided-missile frigates and Off-shore Patrol Vessels (OPVs), and armored vehicles.

South Korea also offered to sell conventional submarines and conventional missiles.

South Korea’s shipbuilder, Hyundai Heavy Industries, promised to set up facilities in the Philippines, helping the local shipbuilding industry.

South Korea had been grateful to the Philippines’ role during the Korean War in the 1950s, promising to support surviving veterans of the war and their dependents.