MANILA, Philippines — Seven Philippine companies and government agencies formalized new partnerships with South Korean firms on Wednesday, March 4, 2026, during the high-profile Philippines-Korea Business Forum. The event was attended by President Ferdinand Marcos Jr. and South Korean President Lee Jae-myung, who was in Manila for a two-day state visit.
These agreements are aimed at advancing the Philippines’ industrial value chain, focusing on energy, aerospace, and high-tech manufacturing.
- Nuclear Energy: Manila Electric Co. (Meralco) signed a trilateral cooperation framework with Korea Hydro & Nuclear Power (KHNP) and the Export-Import Bank of Korea (KEXIM). The partnership will explore nuclear power plant design, engineering, and potential financing for future projects in the Philippines.
- Shipbuilding: The Technical Education and Skills Development Authority (TESDA) partnered with HD Hyundai Heavy Industries to develop specialized training programs in shipbuilding technology, aiming to bolster the country’s maritime workforce.
- Aerospace: The Philippine Space Agency (PhilSA), DICT, and CEZA joined forces with Perigee Aerospace Inc. to support the assembly, testing, and experimental launch of sounding rockets.
- Critical Minerals: The Mines and Geosciences Bureau (MGB) signed a deal with Korea Mine Rehabilitation and Mineral Resources Corp. (KOMIR) to focus on mine rehabilitation and securing critical mineral supply chains.
- Health & Wellness: Belo Medical Group partnered with Ceragem to introduce premium Korean wellness and medical devices to the local market.
- Medical Aesthetics: Innomedics Trading Corp. expanded its deal with Jetema to distribute advanced dermal fillers locally, with regulatory approval expected within the month.
- Retail & Food: S&R Membership Shopping and Samyang Foods Inc. agreed to expand their commercial partnership to ensure a wider and more consistent supply of popular Korean food products in the Philippines.
- Government Support: These private-sector deals complement 10 government-to-government agreements signed the previous day covering defense, digital cooperation, and agriculture.
- Trade Goals: The forum highlighted “Vision 2030,” a shared goal to increase bilateral trade between the two nations to $20 billion by the year 2030.
- Investor Confidence: President Marcos assured South Korean investors of continued reforms, including the CREATE MORE Act and the establishment of “Green Lanes” to streamline permits for strategic investments.
