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Korea, Philippines discuss expanding cooperation in trade, supply chains

Published: 07 Apr. 2025, 19:16

This file photo taken on April 3, 2025, shows South Korean Industry Minister Ahn Duk-geun. [YONHAP]

Korea and the Philippines discussed bolstering bilateral cooperation in trade, investment and supply chains amid shifting global trade dynamics, Seoul's Ministry of Trade, Industry and Energy said Monday.

Industry Minister Ahn Duk-geun discussed the agenda items in a meeting with a visiting Philippine governmental delegation led by Frederick Go, special assistant to the president for investment and economic affairs, according to the Industry Ministry.

In the meeting, the two sides agreed to strengthen collaboration in critical minerals and renewable energy following the elevation of bilateral relations to a strategic partnership last year.

In 2024, Seoul and Manila signed memorandums of understanding on cooperation in the Philippines' long-stalled nuclear power plant project on the Bataan peninsula and the supply chain of critical minerals.

The ministry said Go told Ahn that the Philippines views Korea as a major partner in trade and investment, while Ahn said the Philippines has big growth potential considering its efforts to create a favorable environment for corporate investments.

On Monday, the delegation also hosted a business forum on cooperation between Korea and the Philippines.

"Seoul will continue to collaborate with the Philippine government and utilize economic cooperation platforms between the two countries to support bilateral corporate cooperation," Ahn said in a congratulatory message for the forum.

Yonhap