With the inaugural Korea-Mekong Summit between Korea and the five countries along the Mekong River – Cambodia, Laos, Myanmar, Thailand and Vietnam – and the ASEAN (Association of Southeast Asian Nations)-ROK (Republic of Korea) Commemorative Summit from Nov. 25-27 in Busan, Korea.net explores the results of President Moon Jae-in's visits to all 10 ASEAN member countries since his inauguration, Korea's exchanges with these nations and the potential for economic cooperation.

By Lee Jihae
Photos = Cheong Wa Dae

Korea and the Philippines have closely cooperated to preserve democracy and economic development since they formed diplomatic ties in 1947.

The island nation was also the first member nation of the Association of Southeast Asian Nations (ASEAN) to form diplomatic ties with Korea, and also aided its ally during the Korean War (1950-53) by sending ground forces.

President Moon Jae-in visited the Philippines in November 2017 while Philippine President Rodrigo Duterte made a reciprocal trip to Korea in June 2018.

Among ASEAN member countries, the Philippines has the third-highest rate of people-to-people exchanges with Korea after Vietnam and Thailand. Last year, an estimated two million Koreans and Filipinos combined visited each other's countries.

Also last year, President Moon said he would extend support for Philippine residents and multicultural families in Korea. More than 60,000 Philippine nationals are estimated to live in Korea.

He also pledged to double Korea's Economic Development Cooperation Fund from USD 500 million to USD 1 billion for projects under the so-called Build, Build, Build infrastructure program of the Philippine government.

The two countries also signed five agreements on transportation, economy and trade, renewable energy, science and technology, and infrastructure, fueling momentum for Korean corporations to take part in Philippine infrastructure projects.

President Moon also pledged to share technology to aid Philippine manufacturing, including in the automotive and molding technology sectors.

jihlee08@korea.kr