PH, South Korean group sign deals on shipbuilding, maritime business

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Metro Manila (CNN Philippines, November 14) — The Philippines’ maritime agency and a South Korean marine and offshore manufacturing group have signed a cooperation agreement on shipbuilding and maritime trade and business on Nov. 8.

Transportation Undersecretary for Maritime Elmer Francisco Sarmiento said the agreement will introduce new technology, which will help the country become more independent from the “importation of ship machinery, equipment and other products and services.”

The Maritime Industry Authority (Marina) and South Korea’s Busan Marine Engineering Association signed the agreement during the Korea-Philippines Ship Technology Development Cooperation Forum.

Under the agreement, the two countries are committed to generate job opportunities, which will help boost the country’s shipping industry.

They are also urged to improve the maritime business through “education, technical, consulting, designing, research and development, engineering and construction and trading activities."

On Monday, Marina inked a memorandum of agreement with the French Embassy to ensure maritime safety and security.

READ: PH, France sign agreement to strengthen shipping industry