▲ President Lee Jae Myung (L) shakes hands with Philippine President Ferdinand Marcos Jr. ahead of their talks at Malacanang Palace in Manila on March 3, 2026. (Yonhap)
▲ President Lee Jae Myung (2nd from L) and Philippine President Ferdinand Marcos Jr. (3rd from R) hold summit talks at Malacanang Palace in Manila on March 3, 2026. (Yonhap)
▲ President Lee Jae Myung (R) and Philippine President Ferdinand Marcos Jr. (L) review an honor guard during a welcome ceremony held at Malacanang Palace in Manila on March 3, 2026. (Yonhap)

Lee-Philippines-summit

Lee, Philippine president discuss ways to forge closer economic ties

By Kim Eun-jung

MANILA, March 3 (Yonhap) -- President Lee Jae Myung held summit talks with Philippine President Ferdinand Marcos Jr. on Tuesday to discuss ways to strengthen economic cooperation in areas including artificial intelligence (AI), the defense industry and infrastructure.

Lee underscored the importance of expanding bilateral ties beyond trade and investment into promising new sectors and stepping up cooperation amid a shifting international order during the talks held in Manila amid the widening conflict in the Middle East.

"The two countries have developed cooperative relations in various areas, including trade, investment, the defense industry, infrastructure and development, and now stand on the threshold of expanding the scope of cooperation," Lee said in opening remarks.

"Promising areas, including AI, digital technology, green energy, shipbuilding and the culture industry, are fields where both countries can work together," he added.

South Korea is one of the Philippines' major economic partners, with a bilateral free trade deal taking effect in 2024.

Lee expressed hope to build on the momentum of closer bilateral ties to contribute to South Korea's deepening relations with the Association of Southeast Asian Nations, a major trading partner.

"The two countries will be valuable partners in tackling challenges amid an era of geopolitical uncertainty and intense global technological competition," he said.

Marcos highlighted cooperation on large-scale infrastructure projects and expressed hope for South Korea's prompt participation in the Panay-Guimaras-Negros bridge project, which will connect the three central Philippine islands of Panay, Guimaras and Negros.

The Philippine president also noted deepening collaboration in maritime security and the defense industry based on "mutual trust" amid the changing international order, expressing hope to advance strategic cooperation.

It marked Lee's second summit with Marcos following their first meeting on the sidelines of the Asia-Pacific Economic Cooperation summit in late October.

South Korea and the Philippines forged diplomatic ties on March 3, 1949, making the summit coincide with the anniversary of diplomatic relations.

The Philippines was the first Southeast Asian nation with which South Korea established diplomatic relations and the first Asian country to dispatch troops to support Seoul during the 1950-53 Korean War.

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