PH, South Korea elevate ties to strategic partnership with 6 new agreements

The Philippines and South Korea elevated their relationship to a strategic partnership by signing six new agreements during South Korean President Yoon Suk Yeol's state visit.

Key agreements were signed between their respective Coast Guards to enhance maritime cooperation.

A significant MOU was signed for a feasibility study on the Bataan Nuclear Power Plant (BNPP), which President Marcos hopes will contribute to the country's energy security.

The feasibility study for the BNPP will commence in January 2025, with Korea Hydro and Nuclear Power Co., Ltd. (KHNP) shouldering the entire cost.

The study will assess the viability, safety, and sustainability of nuclear energy options in two phases, including evaluating the potential revival of the BNPP.

South Korean President Yoon Suk Yeol highlighted the importance of nuclear power as a carbon-free energy source.

Other agreements covered economic innovation, critical raw material supply chains, and tourism, alongside loan agreements for infrastructure projects.