MANILA, Oct. 14 (Xinhua) -- The Philippines and South Korea will sign a memorandum of understanding (MoU) on defense cooperation during the state visit of Philippine President Benigno Aquino III to South Korea this week, the Department of Foreign Affairs (DFA) said Monday.
Foreign Affairs spokesman Raul Hernandez said that Aquino and South Korean President Park Geun-hye will witness the signing of the MoU between the two countries' defense ministers when the former visits Seoul on Oct. 17-18.
The MoU will cover a wide range of cooperation "from exchange of visits by military personnel and experts to humanitarian assistance and international peacekeeping activities," he said in a news briefing in Malacanang, the presidential palace.
Aquino will also meet with the Korean businessmen and the Filipino community during his trip, Hernandez added.
South Korea is one of the Philippines' major investment and trade partners with bilateral trade value of 7.4 billion U.S. dollars last year.
It is also the country's top source of tourists which topped 1 million in 2012, or nearly a quarter of total tourist arrivals to the Philippines.