Forging new era in Korea-Philippines relations

The summit between the presidents of Korea and the Philippines on March 3 marked a new era for a bilateral partnership that began with the establishment of diplomatic relations in 1949. Korea is one of only five strategic partners of the Philippines. At the summit, both leaders signed 10 deals to strengthen cooperation in trade and investment, infrastructure, defense, shipbuilding, artificial intelligence, digital technologies, intellectual property, culture and people-to-people exchanges.

On the economic and trade front, the Korea-Philippines Free Trade Agreement entered into force on Dec. 31, 2024, anchoring stronger economic relations. Consequently, Korea’s investment in the Philippines has increased fivefold. While the bilateral trade volume amounted to $15.12 billion in 2025, it has not returned to the peak level of $17.5 billion achieved in 2022. This indicates substantial room for further growth.

The two leaders signed a memorandum of understanding (MOU) to further institutionalize trade, investment and economic cooperation between the two countries. In accordance with the MOU, the two countries are set to regularize the ministerial-level joint committee meeting and focus its agenda on shipbuilding, semiconductors, electronics and the digital economy.

Of the 10 MOUs signed during the summit, one particularly addressed critical minerals cooperation between the two countries. Korea’s manufacturing strength stems from semiconductors, batteries, electric vehicles and advanced manufacturing, which require a reliable supply of critical minerals like nickel, cobalt and others. Korea, a resource-poor country, almost entirely relies on imports. Wanting to build processing capacity domestically, the Philippines is keenly interested in forging partnerships with Korean companies with technology to develop a sustainable resource cooperation model. Both countries with high complementarity can draw lessons from LX International's Rapu-Rapu project, which successfully completed a copper and zinc mine restoration for building critical minerals cooperation.

The latest bilateral economic feat is shipbuilding cooperation at Subic Bay. Korea’s HD Hyundai Heavy Industries launched commercial shipbuilding operations at the strategic freeport zone last year. A $550 million investment aims at creating 7,000 local jobs, training local workforce and boosting the Philippine's industrial base. Korea’s shipbuilding industry in Busan is also heavily supported by skilled Filipino welders.

Subic Bay shipbuilding goes beyond industrial cooperation. It has become a cornerstone of Korea-Philippines defense and security cooperation. The operation actively supports maintenance, repair and overhaul logistics, as well as defense modernization for the Philippine Navy. As the Philippines increasingly seeks to develop a more self-reliant defense industry, both countries need to engage more closely to chart the range of possible cooperation. Defense and security cooperation encompasses vital issues such as maritime domain awareness, cyber defense, critical infrastructure protection and preparedness against hybrid threats.

Korea’s demographic shift and the Philippines’ ample labor force jointly open a window of opportunity for deeper bilateral cooperation. In particular, an aging population and a shrinking workforce are reshaping the landscape of Korean health care and elder care. The two countries can proactively promote structured caregiver and nursing exchange programs and joint training in geriatric and long-term care standards. The Korean government should take a more forward-looking attitude toward mutual recognition of qualifications, so only a simple assessment and on-site training are required upon arrival in Korea, setting a progressive precedent for cooperation with other partner countries.

In line with its deep respect for Association of Southeast Asian Nations (ASEAN) centrality, Korea has consistently sustained cooperation with the regional bloc across various frameworks, including the ASEAN Plus Three Meeting, the ASEAN-ROK Dialogue, the ASEAN Regional Forum and the East Asia Summit, among other important institutional platforms. This year, the Philippines holds the ASEAN chairship. Under the theme of “Navigating Our Future, Together,” the Philippines is promoting the “3Ps” framework — Peace and Security Anchors, Prosperity Corridors and People Empowerment.

The Peace and Security Anchors prioritize regional stability, maritime security and the finalization of the South China Sea Code of Conduct. The Peace and Security Anchors are crucial for Korea’s maritime security and sea trade, as well as Korea’s cooperation in the Subic Bay naval modernization. On the Prosperity Corridors, the Philippine chairship is aimed at boosting economic integration pushing ASEAN toward deeper connectivity in digital trade, supply chains and critical industries where Korea has strengths, creating more room for ASEAN-Korea partnership. Hence, ASEAN and Korea can enjoy an elevated level of economic integration.

We have been fans of each other’s culture, especially in music, media, food, education and daily life. Many Koreans have made the Philippines their second home. Some Filipino sport stars and singers were hugely popular among Korean audiences. Many still go to the Philippines to learn English. The Philippines has the third highest number of K-pop fans globally and second in the volume of K-entertainment-related social media posts. While Korean food is already widely enjoyed across the Philippines, we hope to see an authentic Filipino restaurant flourish in Korea in the near future.

The environment is already ripe for a new era of Korea-Philippines partnership.

Song Kyung-jin is senior fellow at Asiatic Research Institute at Korea University.