President Yoon Suk Yeol, who is on a state visit to the Philippines, said there is tremendous potential for cooperation between the two sides based on South Korea's strong capacity in manufacturing and high-tech industries, and the Philippines' young, dynamic demographics and abundant resources.
 
In an interview with The Philippine Star on Monday, Yoon said he intends to present a future vision that will elevate the bilateral relations to a new level through the establishment of a strategic partnership.
 
The South Korean leader said he hopes to further expand bilateral trade and investment that have been pivotal in driving the development of the two sides' ties, anticipating their free trade agreement signed last year will bring substantial benefits to businesses and people on both sides when it takes effect.
 
Yoon said the two sides will strengthen cooperation in critical minerals, energy and digital transformation that are spearheading development and transformation of the global economy, further advancing their ties with the future in sight.
 
The South Korean president also called for the two countries to strengthen strategic communication on the regional situation and jointly respond to global challenges such as geopolitical conflicts, supply chain crises and climate change.