The Republic of Korea Navy (ROKN) is planning to decommission its Pohang-class Corvette by the end of the year, in a bid to prepare it for donation to the Philippine Navy.
The move comes amid rising pressure from China over contradictory claims to the South China Sea.
The Philippines Department of Foreign Affairs (DFA) said: "The Republic of Korea Navy will decommission a Pohang-class Corvette ... for donation to the Philippine Navy, yet another sign of the two countries' growing defence cooperation."
The decision follows the recent donation of a landing craft utility and 16 rubber boats to the Armed Forces of the Philippines.
Built by Korea Shipbuilding, Hyundai Heavy Industries, Daewoo Shipbuilding and Korea Takoma, the Pohang Corvette can be used for anti-surface warfare (ASUW) and anti-submarine warfare (ASW) purposes, depending on the weapon systems equipped onboard.
Powered by a combined diesel or gas (CODOG) propulsion system, including two MTU diesel engines and a LM2500 gas turbine, the 88.3m-long, 1,200t ship generates an output of 6,260SHP, while offering a maximum cruising speed of 32k and a range of 4,000nm at a cruise speed of 15k.
Mainly targeted at coastal line patrolling, it is also capable of performing anti-submarine, anti-ship and anti-aircraft warfare operations in the littoral environment.