Korea and the Philippines on the cusp of a new chapter

Last year in July, I joined President Ferdinand Marcos Jr. at the opening of the Samar Pacific Coastal Road Project-Phase 1. One of the local officials said something that deeply resonated with me. He remarked that with the 7,000 plus islands of the Philippine archipelago comes just as many dreams of Filipinos, and one of those dreams pertaining to the people of the region had come true that day.

President Marcos Jr. expressed a similar view last month at the inauguration of the Panguil Bay Bridge, which he described as “a gateway to a world where distance no longer limits our dreams, where aspirations can take flight.” In recognizing Korea’s contribution in the completion of the project, President Marcos acknowledged that the unwavering support of the Korean government and the Korea Eximbank was “instrumental in turning this dream into a reality.” Evidently, it was “a dream come true,” with the longest sea bridge in Mindanao reducing travel time between Tangub City and Tubod from over two hours to merely seven minutes.

Chasing a common dream is nothing new for Korea and the Philippines, and the expectations that the two countries have for one another were again manifested during the State Visit of President Yoon Suk Yeol to the Philippines on October 6-7 –  the first State Visit by a Korean President in 13 years. Building on a vibrant tapestry of cultural and people-to-people connectivity, both leaders reaffirmed their belief in core values, such as freedom, democracy, human dignity, and the rule of law. Moreover, in marking the 75 years of diplomatic ties, the two nations declared a “Strategic Partnership” to further deepen and elevate the already strong partnership to a higher level. This is especially fitting as ASEAN-Korea relations have also reached new heights, with both sides jointly declaring a “Comprehensive Strategic Partnership” on October 10 at the 25th ASEAN-ROK Summit in Laos.

Seventy-four years ago, Filipinos fought shoulder-to-shoulder with us in the defense of Korea’s freedom and sovereignty during the Korean War. Upon his arrival, President Yoon made it a point to first visit the Korean War Memorial at the Libingan ng mga Bayani to pay tribute to the fallen heroes and meet with veterans and their descendants. This solemn act epitomized his ironclad belief that freedom is not free and underscored the importance of remembering the sacrifices made during the Korean War. For President Yoon, the “friendship forged in blood” between Koreans and soldiers from nations like the Philippines is not just a chapter in history but a testament to the enduring price of freedom  –  one that Korea will continue to honor and never forget.

Since the Korean War, our bilateral relations have blossomed into a partnership rooted in shared dreams and mutual progress. Korea now stands as the Philippines’ 5th largest trading partner, with $13.65 billion in bilateral trade in 2023. The Philippine Senate’s recent concurrence to ratify the Korea-Philippines Free Trade Agreement marks a pivotal moment, infusing fresh energy into our singular path toward co-prosperity.

To be sure, Korea is not just a key investor, but a steadfast partner of the Philippines, leaving its footprints across the country  –  whether in uplifting rural communities, strengthening climate resilience, digital innovation, or improving healthcare. Nowhere is this partnership more tangible than in the realm of infrastructure. From dams to flood control systems, bridges and roads to airports, Korea  –  one of the largest development cooperation partners of the Philippines  –  continues to provide ODA financing for significant ventures. The recent summit saw the signing of agreements that would give flesh to projects like Laguna Lakeshore Road Network Phase I, the Samar Pacific Coastal Road II, and the Panay-Guimaras-Negros Island Bridges.

The summit did more than reaffirm old ties  –  it built bridges toward new horizons and bigger dreams. The signing of the MOU on the Feasibility Study for the Bataan Nuclear Power Plant symbolizes a bold step forward. Should the study prove favorable, the Philippines could become the first in the region to operate a nuclear power plant, a transformation that will help secure energy independence and drive sustainable growth.

Korea can be an ideal model for the Philippines in its goal of achieving upper-middle-income status. A recent World Bank report highlighted Korea’s success in transitioning from a low-income, war-torn nation to a high-income global leader in technology and innovation. President Yoon, emphasizing that Korea and the Philippines are prepared to deepen their links in pivotal sectors shaping the global economy, such as critical minerals, energy, and digital transformation, said that, “we will advance our bilateral relations with the future in sight.”

A business forum during the State Visit gathered top business leaders from both nations, reflecting strong mutual confidence in each other’s markets. The participation of executives from such companies as Samsung, HD Hyundai and Hyundai Motors, Hanwha, Doosan, Korean Air, and LS exemplified the growing interest on the immense potentials of the Philippine market as one of the fastest growing economies in Southeast Asia.

Beyond economic ties, the Philippines and Korea share a common vision for peace and prosperity in the Indo-Pacific. In their joint declaration, the Philippines reaffirmed its support for Korea’s pursuit of lasting peace and stability on the Korean Peninsula, welcoming Korea’s efforts through President Yoon’s “Audacious Initiative” and “August 15 Unification Doctrine.” At the 47th Singapore Lecture on October 9 – in the sidelines of his visit to Singapore  –  entitled “A Vision for Korean Unification Toward a Free, Peaceful, and Prosperous Indo-Pacific Region,” President Yoon emphasized that a nuclear-free, unified Korea could contribute to building a free and prosperous Indo-Pacific by strengthening solidarity among ASEAN member countries.

In relation to the situation in the South China Sea, both sides at the summit reaffirmed the importance of respect for the rule of law, maritime security, and safety. The MOU signed and exchanged between the Philippine Coast Guard and Korea Coast Guard on maritime cooperation during the summit is expected to further deepen cooperation in maritime affairs. It is noteworthy that Korea holds Maritime Dialogue with the Philippines on regular basis. Korea also plays an important role in the modernization of the Armed Forces of the Philippines. During his trip to Korea in June for the launch of the Korean-made corvette BRP Miguel Malvar, Defense Secretary Gilberto C. Teodoro Jr. highlighted the shared fighting spirit of baekjeolbulgul  –  the “Indomitable Spirit” that reflects standing firm for what is right and demonstrating steadfast resilience, a quality embraced by both nations.

Now, the Philippines and Korea are standing on the cusp of an exciting new chapter. President Yoon’s State Visit has bolstered the already robust partnership between our two countries to shape a dream together as strategic partners, toward the next 75 years and beyond.

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(Lee Sang-hwa is the Ambassador of the Republic of Korea to the Philippines.)