The Indo-Pacific serves as a dynamic nexus where strategic interests, economic ambitions, and security challenges intersect. The region contends with diverse threat perceptions arising from geopolitical tensions and strategic rivalries. Addressing these challenges demands collaborative diplomacy, multilateral engagements, and adherence to international norms to uphold peace and stability opening the space of opportunities for collaborating with like-minded partners. 

Emerging as one of the Philippines’ key partners is the Republic of Korea (ROK). The two countries, celebrating 75 years of diplomatic ties, have fostered a robust partnership across various sectors, notably in trade and investment, defense and security, and maritime affairs. The success of this relationship is a result of shared values of freedom and democracy, common aspirations for regional peace, stability, and prosperity, and their commitment to work closely in addressing common challenges and opportunities. 

On trade and investment, the ROK serves as one of the top Philippine beneficial investment partners. According to the Export-Import Bank of Korea, the ROK invested more than USD120 million (156 cases) in the Philippines in 2023. In line with this, high-tech electronics and semiconductor companies, such as Samsung Electro-Mechanics Philippines and SFA Semicon Philippines Corporation, are thriving. Furthermore, the upcoming establishment of Hyundai shipyard in Subic Bay is expected to be the largest FDI in the country’s history. The signing of the ROK-Philippines Free Trade Agreement, which will be enacted soon, is also a testament to the strengthening of the economic ties between the two countries. 

On defense and security, the ROK and the Philippines continue to engage each other as partners in the defense industry to strengthen the Philippines’ military capabilities. Also, ROK has been participating in joint military exercises held in the Philippines, including the Balikatan and the Pacific Partnership, and its military has engaged in regular exchanges and visits with the Philippines. 

Moreover, the ROK is one of the Philippines’ consistent supporters as Manila pursues maritime economic/security cooperation in the West Philippine Sea. The two countries continue to engage in regular maritime dialogue to deepen cooperation in maritime affairs, including exchanges between the coast guards of the two countries. In June this year, the Korea Coast Guard visited Manila to conduct the first ever joint exercises with the Philippine Coast Guard. 

In line with the robust partnership between the two countries, the Stratbase ADR Institute, in partnership with the Korea Foundation, hosted a conference entitled “Enhancing Indo-Pacific Security: Philippines-Republic of Korea Cooperation Strategies” on September 20, 2024 (Friday) from 9:00 AM to 2:30 PM at Ballroom 1, Fairmont Makati, Makati City. 

The event aimed to commemorate the 75^th anniversary of diplomatic relations between the Philippines and the ROK through facilitating meaningful discussions on the Indo-Pacific landscape by gathering government officials, members of the diplomatic community, and key opinion leaders and experts. It also aims to explore additional opportunities for cooperation and collaboration between the two countries and to identify potential risks in the Indo-Pacific to develop better strategies in safeguarding it. 

The morning session included a public discussion on the impact of geopolitical developments on the security landscape and global supply chains in the Indo-Pacific. Meanwhile, the afternoon session featured a private discussion on threat perceptions and opportunities for collaboration in the areas of security and economic cooperation.