The Philippines and South Korea seek to strengthen supply chain links and boost cooperation on nuclear energy, South Korea's Ministry of Trade Industry and Energy said.

Manila and Seoul held their second Joint Commission for Trade and Economic Cooperation meeting last 18 October led by Trade and Industry Undersecretary Ceferino Rodolfo and MOTIE Deputy Trade Minister Jeong Dae-jin in South Korea.

"Both sides assessed that this meeting, a first to be held in person since the pandemic outbreak, has been opportune in expanding Korea-Philippines economic cooperation centering on core raw materials, nuclear power plants, renewable energy, and eco-friendly automobiles," MOTIE said.

MOTIE said both countries agreed to push for a memorandum of understanding on the Korea-Philippines Core Raw Materials Supply Chain, taking advantage of the rich mineral production in the Philippines, especially nickel, chromium and copper.

Priority sector

Integrated mineral processing is one of the priority sectors of the DTI under its "Make It Happen" in the Philippines campaign.

"For nuclear power plants and energy, the two countries established a new working-level communication channel to deepen their ties in energy efficiency, and intend to expand their scope of collaboration. In particular, both sides agreed on strengthening nuclear power cooperation for the revival of the Philippines' nuclear reactor industry, and shared policy directions on clean energy development," MOTIE added.

The Philippines has been discussing with South Korea on the use of small modular reactor technology.