PBBM, Lee seal 10 key agreements

The Philippines and South Korea on Tuesday sealed 10 memoranda of understanding (MoU) covering key sectors, including trade, digitalization and agriculture, during ceremonies at Malacañang Palace.

President Ferdinand “Bongbong” R. Marcos Jr. welcomed the agreements on the first day of the State Visit of South Korean President Lee Jae Myung.

“We have concluded several agreements in 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, which will sustain the momentum of the Philippines-RoK Strategic Partnership for the future,” Marcos said during a joint press conference.

The two countries elevated their ties to a strategic partnership in 2024, paving the way for a deeper cooperation in areas of mutual interest.

Among the agreements signed were MoUs between the Department of Information and Communications Technology and Korea’s Ministry of Science and ICT on digital cooperation; the Department of Economy, Planning, and Development and Korea’s Ministry of Foreign Affairs on a technology, digitalization and innovation program; and Amendment No. 2 to the implementing arrangement between the Department of National Defense and Korea’s Defense Acquisition Program Administration on the procurement of defense materials.