President Yoon Suk Yeol (left) on the morning of Oct. 7 poses for photos with Philippine President Ferdinand Marcos Jr ahead of their extended summit at the presidential Malacanang Palace in Manila. (Yonhap News)

By Kim Hyelin

President Yoon Suk Yeol, on a state visit to the Philippines, on Oct. 7 agreed with Philippine President Ferdinand Marcos Jr to form a bilateral strategic partnership in their summit at the presidential Malacanang Palace in Manila.

 
Both leaders also adopted a joint declaration on higher cooperation in all sectors including national security and economy like in nuclear power plants. 

For the first time since forming diplomatic relations in 1949, the two sides raised the level of their ties and adopted a joint declaration at a bilateral summit.

Seoul and Manila pledged higher security cooperation in national defense, the defense industry and maritime affairs including the proposed launch of a rule-based maritime order in the South China Sea. 

In economy, Korea agreed to inject its Economic Development Cooperation Fund into large-scale infrastructure projects in the Philippines such as construction of roads and bridges. 

Both governments also signed a memorandum of understanding on conducting a feasibility study to resume construction of the Bataan nuclear plant, fueling expectations of stronger cooperation in the sector.

After attending the Korea-Philippines Business Forum, President Yoon will visit Singapore from Oct. 8-9. From Oct. 10-11, he will attend in Laos the ASEAN (Association of Southeast Asian Nations) and ASEAN Plus Three summits.

kimhyelin211@korea.kr