President Yoon Suk Yeol (right) shakes hands with his Australian counterpart Anthony Albanese, as they hold bilateral talks in Vientiane, Laos, Friday. (Pool photo via Yonhap)

VIENTIANE, Laos -- President Yoon Suk Yeol on Friday expressed South Korean companies' appetite for Australia's frigate replacement project known as Project Sea 3000 to upgrade its maritime defense capability, during his talks with Australia's Prime Minister Anthony Albanese.

At the bilateral meeting on the margins of the ASEAN Summit, Yoon "highlighted South Korean firms' willingness" to participate in Australia's program to acquire 11 general-purpose frigates. Yoon also asked his Australian counterpart for the country's interest in South Korean bidders. The Australian government announced it would open bids in February.

Yoon and Albanese have pledged to expand bilateral cooperation in the field of defense equipment procurement, supply chain stabilization and economic security, recognizing each other as "values-sharing partners," according to the presidential office.

Yoon's meeting with Albanese was his fifth set of bilateral talks with leaders in attendance for the summit of the Association of Southeast Asian nations this week.

On Thursday, Yoon met Vietnamese Prime Minister Pham Minh Chinh, Thailand's Prime Minister Paetongtarn Shinawatra, Japanese Prime Minister Shigeru Ishiba and Laos President Thongloun Sisoulith.

Yoon and Albanese both attended the East Asia Summit later on Friday.

Yoon wraps up his Southeast Asian trip and returns to Seoul on Friday. He visited the Philippines, Singapore and Laos during his weeklong itinerary.

Korea Herald correspondent