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Manila Bulletin devider Philippines devider National devider Marcos secures major Korean investments at APEC 2025; pushes PH trade pact with Chile

Marcos secures major Korean investments at APEC 2025; pushes PH trade pact with Chile

Published Nov 1, 2025 03:18 pm
President Ferdinand 'Bongbong' Marcos Jr. (PCO)
President Ferdinand 'Bongbong' Marcos Jr. (PCO)
BUSAN, South Korea — President Marcos secured major investment, defense, and energy commitments from top South Korean firms and pushed for a landmark trade agreement with Chile as he advanced the Philippines’ strategic priorities during the 2025 Asia-Pacific Economic Cooperation Economic Leaders’ Meeting (AELM) in Gyeongju, South Korea.
On the sidelines of the last day of the AELM on Saturday, Nov. 1, Marcos met with executives of shipbuilding giant Hanwha Ocean, which proposed to support the Philippine Navy’s submarine program through the construction of a local submarine base and a maintenance, repair, and overhaul (MRO) facility.
The company also offered training for Filipino naval operators and commanders using advanced simulators and technology transfer partnerships aimed at building the country’s self-reliant defense capability.
Hanwha executives said the plan includes the deployment of KSS-III PN submarines equipped with modern sonar, combat systems, and lithium-ion batteries designed for longer underwater endurance.
The President also met with the DL Group, whose subsidiary DL E&C is partnering with Meralco to pursue small modular reactor (SMR) projects in the Philippines. These are compact nuclear plants capable of producing clean and stable energy with smaller land use and shorter construction times than traditional facilities.
Marcos said such partnerships align with the administration’s goal of expanding the Philippines’ energy mix and ensuring sustainable power for industry and communities.
During a separate meeting with Samsung Electro-Mechanics Co., Ltd. (SEMCO), the President witnessed the signing of a Supplemental Agreement between the Philippine Economic Zone Authority (PEZA) and Samsung Electro-Mechanics Philippines Corporation (SEMPHIL) to strengthen the country’s manufacturing ecosystem for high-technology industries.
SEMCO executives briefed the President on the P50.7-billion expansion of their Calamba, Laguna facility — a project that will generate over 3,000 high-technology jobs for Filipino engineers and technicians.
“The SEMCO planned business expansion directly supports the President’s goal of transforming the nation into a regional manufacturing and innovation hub,” the Presidential Communications Office (PCO) said.

PH-Chile trade pact

President Marcos also held a bilateral meeting with Chilean President Gabriel Boric on the sidelines of the AELM at the Hwabaek International Convention Center in Gyeongju on Saturday.
The two leaders discussed ways to bring the Philippines and Chile closer despite their geographic distance, citing shared heritage and cultural ties as the foundation for a stronger partnership.
Marcos emphasized the need to finalize the Philippines-Chile Comprehensive Economic Partnership Agreement (CEPA), which would mark the Philippines’ first free trade deal in Latin America. Both leaders agreed to facilitate the signing of the agreement by year-end, following Manila’s hosting of the third round of negotiations in October.
The President also backed Boric’s call for greater multilateralism, noting the crucial role of APEC and the Association of Southeast Asian Nations (ASEAN) in addressing regional and global challenges.
The meeting took place ahead of the 80th anniversary of Philippines-Chile relations in 2026 — a milestone both leaders said should usher in deeper economic and diplomatic cooperation.

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