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Jean Mangaluz - Philstar.com
March 4, 2026 | 4:14pm
MANILA, Philippines — Several business agreements were signed between Philippine and South Korean firms during a forum attended by President Ferdinand Marcos Jr. and President Lee Jae Myung on Wednesday, March 4.
During the Philippines-Korea Business Forum, Marcos lauded the Korean firms interested in economic cooperation between Seoul and Manila.
“The business agreements signed earlier today on various industries, including shipbuilding, nuclear energy, aerospace, critical minerals, and supply chain and retail, health and wellness demonstrate our enthusiasm for our private sector to deepen our strong economic relations,” Marcos said.
“All of these will ripple into significant partnerships that will generate projects, investments, and of course, livelihood. So, to our partners from Korea: Your investment in the Philippines reflects a strategic and forward-looking decision,” he added.
One of the agreements signed was a memorandum of understanding between Korea Export-Import Bank (KEXIM), Korea Hydro & Nuclear Power (KHNP), and Meralco for Korean-backed nuclear power development in the Philippines.
Under the deal, KEXIM would provide financial support for nuclear projects involving Korean firms, while KHNP would supply the technology, according to a statement by KEXIM on Wednesday.
Marcos told the Korean business leaders that the government will continue to ease business for foreign firms through laws such as the CREATE MORE Act, the Capital Markets Efficiency Promotion Act, Amended Foreign Investments Act, and the Amended Retail Trade Liberalization Act.
“Together, these measures form a coherent strategy to create an economy that is dynamic, that is inclusive, and resilient,” Marcos said.
This marks one of Lee’s last stops in his state visit to the Philippines. At least 10 deals were secured between the Philippines and South Korea, which included trade and defense agreements.
