South Korean President Yoon Suk Yeol will kick off his sales diplomacy in the Philippines today, marking the first stop on his tour of three Southeast Asian nations.
Yoon will begin his official agenda with a wreath-laying ceremony at the monument to José Rizal, the country’s national hero.
Following this ceremony, Yoon and his wife will proceed to Malacañang Palace to attend an official welcome event.
Next, Yoon is scheduled to hold a summit with Philippine President Ferdinand Marcos Jr. to discuss various ways to strengthen relations between South Korea and the Philippines. Immediately after their talks, both leaders will participate in a memorandum of understanding (MOU) exchange ceremony, followed by a joint press conference.
During this visit, Yoon aims to enhance trade and investment cooperation, which has become crucial for the development of both countries. As part of his sales diplomacy, he also intends to support South Korean companies in securing significant infrastructure projects.
Yopon also plans to broaden cooperation in areas such as pesticides, fertilizers, and agricultural machinery to boost agricultural productivity in the Philippines, building on the Agricultural Cooperation MOU signed in 2018. He will explore ways to assist South Korean companies in entering the local market.
Moreover, the Philippines has been looking to resume the construction of nuclear power plants that have been on hold since 1986. The country is particularly interested in collaborating with South Korea, which has advanced nuclear power capabilities. During this state visit, Yoon is expected to discuss specific plans for cooperation in nuclear power construction.
Finally, discussions are set to take place regarding strengthening cooperation in the critical mineral supply chain, as the Philippines ranks second globally in nickel production and sixth in cobalt production as of 2023.
