The Philippines and South Korea have signed a memorandum of understanding (MOU) to strengthen cooperation on trade, energy, and industrial development, with a particular focus on the value-added processing of critical minerals used in battery production.
Department of Trade and Industry (DTI) Secretary Cristina Roque and South Korea’s Trade, Industry and Energy Minister Cheong In-kyo signed the agreement on May 14, 2025 during a bilateral meeting in Jeju Island.
The initiative aims to support both countries’ efforts to build resilient supply chains and boost their roles in the global green energy transition.
“This is a bold declaration of our collective goal of shaping a future-ready, innovation-driven economy anchored on robust global partnerships and equitable growth for all our citizens,” Roque said.
The agreement outlines joint initiatives in renewable energy, electric vehicles, and the processing of critical minerals such as nickel and cobalt, which are key inputs for battery manufacturing.
The two countries are expected to begin work on projects that will enhance value addition in mineral supply chains and promote industrial upgrading.
The MOU provides support to the Philippines-South Korea Free Trade Agreement, which entered into force in 2024.
It also supports the Philippines’ preparations for its ASEAN Chairmanship in 2026, positioning the country as a regional hub for industrial cooperation and sustainable resource development.
