PBBM secures major Korean investments

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.

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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 selfreliant defense capability.

Hanwha executives said the plan includes the deployment of KSS-III PN submarines equipped with modern sonar, combat systems, and lithiumion 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.