The Philippines and the Republic of Korea are moving to strengthen their economic partnership through strategic investments in high-value manufacturing, semiconductors, shipbuilding, infrastructure, and energy.
The commitment was reaffirmed during a courtesy meeting between Finance Secretary Frederick D. Go and Korean Ambassador to the Philippines Lee Sang-Hwa, where both sides discussed ways to expand economic cooperation, including investment opportunities under the Luzon Economic Corridor.
The partnership builds on Korea’s technical expertise and the Philippines’ young and skilled workforce, with both countries aiming to generate quality jobs and improve the country’s long-term competitiveness.
“These investments represent opportunities for Filipinos through better jobs, improved connectivity, and more reliable services. We look forward to working closely with Korea to deliver projects that are truly responsive to the needs of the people,” Go said.
Among the major investments discussed was the expansion of Samsung Electro-Mechanics Philippines’ multilayer ceramic capacitor manufacturing facility in Laguna.
The project is expected to create more high-value jobs and strengthen the Philippines’ role in the global semiconductor and electronics supply chain. It is also the first investment to receive Presidential incentives under the CREATE MORE Act.
Multilayer ceramic capacitors are vital components used in automobiles, smartphones, and other electronic devices.
Go and Lee also discussed strategic investment opportunities within the Luzon Economic Corridor, including SFA Semicon’s proposed expansion investment, HD Hyundai Heavy Industries’ shipbuilding operations in Subic, and the construction of two major railway projects expected to improve connectivity across Luzon.
SFA Semicon’s proposed investment will expand semiconductor assembly and testing capabilities in the Philippines, further strengthening the country’s position in the global electronics value chain while creating more high-value employment opportunities for Filipinos.
The Philippines and Korea are also deepening maritime cooperation through HD Hyundai Heavy Industries Philippines, which is set to launch its first locally built vessel at its Subic shipyard this year.
The over 200-meter vessel marks a major milestone for the country’s shipbuilding industry and reinforces the Philippines’ role as a regional maritime manufacturing hub.
South Korea is also a key partner in the construction of the North-South Commuter Railway and the Subic-Clark-Manila-Batangas Railway.
Once completed, the railway projects are expected to improve connectivity across Luzon, reduce travel time and logistics costs, and support the more efficient movement of people and goods between key economic centers.
The two sides also discussed potential cooperation on nuclear energy as part of the Philippines’ broader effort to strengthen energy security, diversify its energy mix, and support long-term economic growth.
“As a trusted and enduring partner, the Republic of Korea remains committed to deepening substantive cooperation with its strategic partner, the Philippines, to build a shared future marked by mutual prosperity, resilience, and sustainable growth,” Ambassador Lee Sang-Hwa said.