The Philippines and the Republic of Korea are deepening economic partnerships through strategic investments in high-value manufacturing, semiconductors, shipbuilding, and infrastructure that will generate quality jobs, strengthen key industries, and enhance the country’s competitiveness.
During a courtesy meeting, Finance Secretary Frederick D. Go and Korean Ambassador to the Philippines Lee Sang-Hwa reaffirmed their commitment to expanding economic cooperation, including through opportunities under the Luzon Economic Corridor (LEC).
The partnership builds on the strengths of both countries––Korea’s technical expertise and the Philippines’ young and skilled workforce.
“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,” Secretary Frederick Go said.
Among the key investments discussed was the expansion of Samsung Electro-Mechanics Philippines’ (SEMPHIL) multilayer ceramic capacitor (MLCC) manufacturing facility in Laguna. The project, which is expected to create more high-value jobs and strengthen the Philippines’ role in the global semiconductor and electronics supply chain, is the first investment to receive Presidential incentives under the CREATE MORE Act.
MLCCs are vital components of automobiles, smartphones, and other electronic devices.
The two officials also discussed opportunities to catalyze strategic investments under 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 that will enhance 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 likewise deepening maritime cooperation through HD Hyundai Heavy Industries Philippines (HHI-P), which is set to launch its first locally built vessel at its Subic shipyard this year. The over 200-meter vessel marks a significant milestone for the country’s shipbuilding industry and reinforces the Philippines’ role as a regional maritime manufacturing hub.
The Republic of Korea is also a key partner in the construction of the North-South Commuter Railway (NSCR) and the Subic-Clark-Manila-Batangas (SCMB) Railway. Once completed, these projects will improve connectivity across Luzon, reduce travel time and logistics costs, and facilitate the 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 efforts 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.
