President Park Geun-hye held a bilateral summit with visiting Philippine President Benigno Aquino on Thursday, after returning from her Southeast Asia tour last week.
During their talks, Park once again highlighted her economic and strategic emphasis on the region, citing the Philippines' remarkable growth in recent years.
In particular, the two leaders promised to work closely together on defense and signed an MOU for cooperation in this area following their talks.
Park also called on Manila to ease regulations on foreign investment and support Korean companies operating in the country. In response, Aquino vowed to support Korean firms seeking to take part in major infrastructure projects in his country.