The fusion of Synthetic Aperture Radar (SAR) and RGB imagery for land cover classification remains challenging due to modality heterogeneity and underexploited spectral complementarity. Existing approaches often fail to decouple shared structural features from modality-complementary radiometric attributes, resulting in feature conflicts and information loss. To address this, we propose Phase-Amplitude Decoupling (PAD), a frequency-aware framework that separates phase (modality-shared) and amplitude (modality-complementary) components in the Fourier domain. This design reinforces shared structures while preserving complementary characteristics, thereby enhancing fusion quality. Unlike previous methods that overlook the distinct physical properties encoded in frequency spectra, PAD explicitly introduces amplitude-phase decoupling for multi-modal fusion. Specifically, PAD comprises two key components: 1) Phase Spectrum Correction (PSC), which aligns cross-modal phase features via convolution-guided scaling to improve geometric consistency; and 2) Amplitude Spectrum Fusion (ASF), which dynamically integrates high- and low-frequency patterns using frequency-adaptive multilayer perceptrons, effectively exploiting SAR's morphological sensitivity and RGB's spectral richness. Extensive experiments on WHU-OPT-SAR and DDHR-SK demonstrate state-of-the-art performance. This work establishes a new paradigm for physics-aware multi-modal fusion in remote sensing. The code will be available at https://github.com/RanFeng2/PAD.