Blue House, Seoul
17 October 2013

President Benigno S. Aquino III and Korean President Park Geun-hye witnessed the signing of the following agreements after the leaders’ summit talks.

The first is a Memorandum of Understanding between the Philippine Department of National Defense. It was signed by Secretary Voltaire Gazmin and South Korea’s Minister of National Defense Kim Kwan-jin.

The purpose of the MOU is to promote friendly military ties between the Philippines and South Korea. Under this agreement, the Participants will cooperate in the following areas: exchange of defense-related experience and information; mutual exchange of visits by military personnel and experts; military education and training; research and development; defense industry; logistics and maintenance; military technology cooperation; humanitarian assistance and international peacekeeping activities; military sports and cultural activities; military medicine and health services; and other areas of cooperation jointly decided by the participants.

The next was a Memorandum of Understanding between the Philippine Sports Commission and the Korean Ministry of Culture, Sports and Tourism signed by Foreign Affairs Secretary Albert del Rosario and Minister Yoo Jin-ryong.

The MOU aims to strengthen and promote cooperation in the field of sports whereby the two countries will encourage the exchange of experts, specialists and technicians in the field of sports. Under this MOU, both countries will endeavor to provide the necessary facilities for training of athletes of the other country; will encourage the participation of experts, physicians and sport specialists in scientific seminars and conferences in the field of sports; encourage the exchange of sports teams, athletes and sport specialists on the basis of arrangements between sports organizations and clubs. Both sides will also exchange and endeavor to coordinate their views on matters related to the international sports organizations.

The last is a loan agreement between the Philippines and the Export-Import Bank of Korea for integrated disaster risk reduction and climate change adaptation measures in the low lying areas of Pampanga Bay.

The Korea Eximbank agrees to lend an amount not exceeding Eighty Million Four Hundred and Eighty Three Thousand US Dollars (US$80,483,000), to finance the establishment of flood control measures and the rehabilitation of school buildings in the low lying areas of Pampanga Bay to mitigate flood damage and improve life quality in the area. The scope of the project includes civil works and consulting services for detailed engineering design; preparation of bidding documents and assisting the evaluation of bids for civil works; construction supervision; and preparation of progress reports and project completion reports, etc. The executing agencies are the Department of Public Works and Highways and the Department of Education.

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