Manila: President Ferdinand R. Marcos Jr. returned to Manila after what he described as a ‘very productive’ Asia-Pacific Economic Cooperation (APEC) Summit held in Gyeongju, South Korea. During the summit, global trade, artificial intelligence (AI), and climate action were discussed amidst increasing geopolitical and economic challenges.
According to Philippines News Agency, the President and his delegation departed from Gimhae Air Base at 11:55 a.m. local time. The summit concluded a four-day working visit, during which Marcos advocated for enhanced economic cooperation and fortified defense ties with South Korea and other countries in the Asia-Pacific region.
Marcos emphasized the significance of the meeting by highlighting the crucial topics addressed, such as trade liberalization, digital transformation, and AI governance. The discussions also covered global efforts toward climate change mitigation and loss-and-damage funding.
On the sidelines of the APEC Summit, Marcos engaged with prominent South Korean conglomerates. Hanwha Ocean expressed interest in supporting the Philippine Navy’s submarine program through technology transfer and the establishment of a submarine base and maintenance center. Additionally, DL E and C, a subsidiary of DL Group, is collaborating with Meralco to develop small modular reactor (SMR) projects aimed at producing clean energy efficiently.
Samsung Electro-Mechanics Co., Ltd. (SEMCO) updated Marcos on its PHP50.7-billion expansion in Calamba, Laguna, which is set to generate over 3,000 high-technology jobs for Filipino engineers and technicians.
In diplomatic engagements, Marcos held discussions with South Korean President Lee Jae-myung to reinforce defense and economic cooperation. He also met with Chilean President Gabriel Boric, where they agreed to expedite negotiations for a Philippines-Chile Free Trade Agreement, marking the country’s first FTA with a Latin American nation.
The summit concluded with South Korea transferring the APEC chairmanship to China, which will host the leaders’ meeting next year. President Marcos expressed his optimism by stating, “We’re going home with a lot of ideas to think about and some work to do to develop those ideas.”
