SEOUL, March 7 (Yonhap) -- Yuh Myung-woo, a two-time world boxing champ from South Korea, will join hands with multi-division world champion Manny Pacquiao for projects related to their sport, boxing sources said Thursday.

According to the sources, Yuh is scheduled to visit Pacquiao in the latter's home country, the Philippines, to finalize discussions on their partnership. They said Yuh and Pacquiao have agreed on their big picture and will complete more specific execution plans in their upcoming meeting.

Yuh, who runs a promotion company named after his initial, "YMW," has been trying to set up international fights for young South Korean boxers. Pacquiao, a national hero in the Philippines for his boxing heroics, is an elected congressman there and has also been seeking to build boxing-related facilities in his native country.

According to the sources, another world boxing champion from the Philippines, Gerry Penalosa, has acted as the bridge between Yuh and Pacquiao.

The sources said Yuh also hopes to promote boxing exchange between South Korea and the Philippines, and plans to invite Pacquiao for a promotional appearance in South Korea.

Last December, Yuh became the second South Korean to be inducted into the International Boxing Hall of Fame. A two-time light flyweight world champ, Yuh holds the record for consecutive title defenses in his weight class with 17. He retired at age 29 as a champion later that year with a 38-1 record, including 14 knockouts.

The diminutive fighter earned the moniker "Rainfall" in reference to the whirlwind of punches that he "rained down" on his opponents.

Pacquiao is almost certain to join Yuh in the hall of fame once his illustrated career is over. Dubbed "Pacman," he is the first eight-division champion in boxing history. He has long been rated as the best pound-for-pound fighter ever.

Pacquiao, however, dropped his two most recent fights, losing to Timothy Bradley in a split decision in June last year and getting knocked out in the sixth round by Juan Manuel Marquez in December. The defeats have led to speculation that he will soon retire from boxing.

Pacquiao's record stands at 54 wins, including 38 by knockout, five losses and two draws.

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