Yoon arrives in Philippines on first leg of Southeast Asia trip

MANILA, Oct. 6 (Yonhap) – President Yoon Suk Yeol arrived in the Philippines on Sunday for a state visit aimed at boosting economic and security ties with the Southeast Asian nation.

Yoon and first lady Kim Keon Hee will pay tribute at the Korean War Memorial Hall in Manila and attend a meeting with Korean nationals in the Philippines later in the day.

The Philippines dispatched around 7,400 troops to the 1950-53 Korean War to help defend South Korea, with 112 soldiers killed and 299 wounded.

On Monday, Yoon will meet with Philippine President Ferdinand Marcos Jr. to discuss economic cooperation in the supply chain of critical minerals, energy, defense and the oceans industry, his office said.

The Philippines, one of the fast-growing economies in Southeast Asia, is rich in critical minerals, such as nickel and cobalt, and is exploring the feasibility of a nuclear power program, including the possible revival of a mothballed nuclear reactor.

Following the summit, Yoon will attend a bilateral business forum to promote Korean companies' bid in major infrastructure and transport projects and explore new business opportunities, according to the office.

Bilateral trade between the two countries reached $13.65 billion in 2022, with South Korea ranking as the Philippines' fifth-largest exporter.

Approximately 1.45 million South Koreans visited the Philippines last year, making them the largest group of foreign tourists, and over 34,000 Koreans currently reside in the country.

On Tuesday, Yoon will head to Singapore for a state visit before heading to Laos for a series of annual summit meetings led by the Association of Southeast Asian Nations (ASEAN).

ejkim@yna.co.kr
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