President Duterte Bags Billions Of Dollars After Signing 5 Bilateral Deals With South Korea

President Duterte has bagged billions of dollars for the country after signing the 5 bilateral agreements with South Korea.

On Monday (June 04, 2018), President Rodrigo Duterte flew to South Korea for an official state visit and signed five bilateral agreements to intensify the ties between the two countries.

The ceremonial signing of these agreements has been presided over by President Duterte and Korean President Moon Jae-in during the state visit of the Philippine leader in South Korea.

Here are the five bilateral agreement signed by the Philippines and South Korea:

The Memorandum of Understanding (MOU) on Scientific and Technological Cooperation was signed by Science and Technology Secretary Fortunato dela Peña and the Minister of Science and Information and Communication Technology You Young Min.
Trade Secretary Ramon Lopez and Minister of Trade, Industry, and Energy Paik Ungyu signed the Memorandum of understanding (MOU) on trade and economic cooperation.
The MOU for cooperation on the expansion of renewable energy deployment was signed by Defense Secretary Delfin Lorenzana and Paik.
Transportation Secretary Arthur Tugade and Minister of Land, Infrastructure and Transport Kim Hyun-mee also signed an MOU.
The loan agreement for the upcoming Cebu port has been signed by Finance Secretary Carlos Dominguez 3rd and Export-Import Bank of Korea Chairman Eun Sung-soo.

The importance of the bilateral agreements has been emphasized by President Duterte and Korean Pres. Moon Jae-in of making a strong partnership and cooperation between the two states.