The bilateral agreements were signed by Foreign Affairs Secretary Alberto Romulo and Korean Foreign Affairs and Trade Minister Ban Ki Moon at Malacañang’s Reception Hall.
The first accord is an agreement on social security that will help ensure the health and welfare of Filipino workers in Korea, as well as Korean workers in the Philippines.
Under the agreement, pension contributions of the two countries’ workers would be credited to their respective pension funds. The workers would also be accorded the same social security protection wherever they are employed.
The second accord is the $22-million loan from the Economic Development Cooperation Fund (EDCF) of Korea for the widening and upgrading of certain sections of the Gapan-San Fernando-Olongapo Road and an emergency dredging project that will be implemented over a four-year period.
Roh and his wife Kwon Yang-suk arrived at Malacañang at exactly 10 a.m. and were received by Mrs. Arroyo and First Gentleman Jose Miguel Arroyo.
Later in the day, the two leaders led the groundbreaking ceremonies of the $50-million North Rail and South Rail Linkage Project in Tutuban in Divisoria, Manila which aims to decongest Metro Manila.
In her speech at the ceremonies, Mrs. Arroyo mentioned the strong friendship between the two countries that began when the Philippines sent more than 7,000 troops during the Korean War in the 1950s. They comprised the Philippine Civic Action Group, or Philcag.
She also thanked Roh for various Korean investments and government assistance to the country that was estimated to reach over $2 billion.
These include the 34-kilometer North Rail and South Rail Linkage Project that links Caloocan Cty to Alabang in Muntinlupa City, the $1-billion shipyard investment by Hanjin at the Subic Freeport zone in Zambales, the $800-million power plant project by the Korea Electric Power Co. (KEPCO) that would cover Batangas, Cebu and Mindoro, and the construction of an airport in Misamis Oriental.
"Just as the Philippines was there for Korea in the battle against communism in the 1950s, I am grateful that now the Republic of Korea is with us here, in our war against poverty today," Mrs. Arroyo said.
For his part, Roh said his country would continue to take a "vigorous part" in the Philippines’ infrastructure projects.
"I am delighted that this event has allowed us to once again reaffirm our friendship that binds our two countries together," Roh said. "President Arroyo and I agreed to work actively together to embark on this project during her visit to Korea in 2003. Today we are witnessing the fruit of that endeavor," the Korean leader said.
Roh said the railways project would be an emblem of the strong friendship between the two countries.
In a separate ceremony, Energy Secretary Raphael Lotilla and South Korea’s Minister of Commerce, Industry and Energy Lee Hee-Beom, signed three agreements for the development of Philippine natural gas and power generation industries.
These include pledges for the expansion of KEPCO’s 1,200-megawatt natural gas power plant south of Manila, a $15-million grant from KEPCO for the electrification of 500 rural districts in the Philippines, and assistance from Korea Gas Corp. in developing the country’s natural gas industry.
Today, Mrs. Arroyo and President Roh will lead the inauguration rites of the Korea-Philippines IT Training Center (KPITTC) in Quezon City.
Located at the Quezon City Polytechnic University compound in Novaliches, the KPITTC is a grant assistance project from the Korean government. It has an extension facility at the Regional Skills Development Center in Guiguinto, Bulacan.
With its state-of-the-art equipment and training facilities, the center will serve as the country’s hub for training Filipino IT manpower.
Also part of the bilateral cooperation project is the Korea-Philippines Vocational Training Center in agricultural mechanization at the Regional Skills Development Center in Tibungco, Davao City.