South Korea, Philippines share ‘common understanding’ on South China Sea

Published October 7, 2024

The nations’ leaders committed to deepening maritime cooperation on Monday, as they upgraded relations and agreed to closer coastguard ties

 

South Korean President Yoon Suk-yeol and Philippine President Ferdinand Marcos Jnr agreed on Monday to boost defence cooperation as their countries elevated ties to a strategic partnership amid growing security challenges in the region.

“President Marcos and I opened a new chapter of our partnership by elevating our relationship to a strategic partnership,” said South Korea’s Yoon, who is on a state visit to Manila, the first by a South Korean leader in more than a decade.
In a joint press conference with Marcos Jnr, Yoon said his country would actively take part in the latest phase of the Philippines’ multibillion-dollar effort to modernise its military security at a time of rising tensions with China in the South China Sea.
The two leaders agreed to uphold an international rules-based order, including on safety of navigation in the South China Sea, Yoon said, adding they agreed the international community would never condone North Korea’s nuclear programme or what he called “reckless provocations”.

The pair also committed to deepening maritime cooperation and agreed to closer ties between their coastguards. Yoon said they will strengthen “tackling transnational crime, information sharing and conducting search and rescue missions.”

We shared a common understanding about the importance of peace, stability and safety in the South China Sea

South Korea President Yoon Suk-yeol

“We shared a common understanding about the importance of peace, stability and safety in the South China Sea,” Yoon told reporters after the bilateral meeting.

 

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SOURCE: www.scmp.com

RELATED: PH commits to trade pact with South Korea

Published October 7,, 2024

PRESIDENT Ferdinand Marcos Jr. on Monday committed to implement the Free Trade Agreement (FTA) with South Korea.

“We acknowledged the efforts of both sides to enhance bilateral trade, and we looked forward to implementing our free trade agreement that has been ratified and concurred [in] by the Philippine Senate,” Marcos said during his joint press conference with South Korean President Yoon Suk Yeol in Malacañang.

Yoon, who was in Manila for a two-day state visit, said the agreement will further boost trade and investment between the two countries.

“President Marcos and I agreed to work together in order to deliver tangible benefits to the citizens of both countries by stepping up our economic cooperation. To this end, we have committed to bringing Korea-Philippines FTA signed in September last year into force at the earliest date possible,” he said.

The pact is expected to give Philippine investors more access to South Korean markets.

It also aims to spur investments from South Korea into priority sectors, industries and emerging economic areas in the Philippines.

During the Philippine-Korea Business Forum organized by the Philippine Chamber of Commerce and Industry and the Federation of Korean Industries in Manila later in the day, the President said the FTA “prioritizes cooperation in sectors of mutual interest, such as electric vehicles, processing of critical minerals, pharmaceuticals, and creative industries.”

 

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SOURCE: www.manilatimes.net

 

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