Manila, Seoul to sign defense MOU on PNoy's state visit

MANILA, Philippines - President Benigno Aquino III will visit South Korea on Thursday, October 17 to discuss bilateral issues including defense cooperation between the two countries.

The Department of Foreign Affairs (DFA) said Aquino and Korean President Park Geun-hye will witness the signing of at least one memorandum of understanding (MOU) between the two countries concerning cooperation in the field of defense.

"This MOU covers a wide range of cooperation from exchange of visits by military personnel and experts to humanitarian assistance and international peacekeeping activities," DFA spokesman Raul Hernandez said in a statement.

The agency said Aquino will be the first leader to hold a state visit to Korea since President Park took office last February.

Aside from defense matters, the two leaders will discuss political and regional issues, trade and investments relations, official development assistance, consular and labor cooperation and people-to-people exchanges, among others.

Aquino will also meet with Korean conglomerate executives and members of the business community to discuss investment opportunities in the Philippines.

The DFA said South Korea is one of the Philippines’ major investment and business partners, with bilateral trade between two nations amounting to US$ 7.408 billion.

South Korea also remains as the top source of tourists in the Philippines, reaching more than a million in 2012 or nearly a quarter of total tourist arrivals in the country.

During his state visit, Aquino will also meet with the Filipino community in Korea.