Korean Embassy says suspension of feasibility study not related to PH gov’t 

The Embassy of the Republic of Korea in the Philippines said on Friday that the recent suspension of a feasibility study on an infrastructure project has nothing to do with the Philippine government. 

“The suspension of the feasibility study on the project in question is unrelated to the Philippine Government,” the embassy said in a statement. 

“This decision was made solely to allow for the verification of matters that had been raised in Korean media reports. The project in question will be put on hold until further notice,” it added.

While it did not specify which project, it can be recalled that South Korean President Lee Jae-myung has stopped a 700-billion-won won or about P28-billion infrastructure loan project from being implemented in the Philippines, citing corruption.

In a Facebook post, Lee announced, “I have ordered an immediate halt to the proceedings for the project.”

He also posted a link to a report by The Hankyoreh about the halt of proceedings with the Philippines’ request in 2023, through the Economic Development Cooperation Fund, for a loan to construct 350 bridges across the country. 

The South Korean leader announced the ongoing investigation into the anomalous flood control projects in the country. 

But the Department of Finance said that the P28-billion Rural Modular Bridge Project is currently being proposed for financing by the French government and not by South Korea. It noted that  “there is no existing loan for the said project with South Korea.” 

For its part, the South Korean Embassy said that Seoul remains committed to its partnership with Manila. 

“Despite current circumstances, the Philippines remains one of Korea's most valued partners, and Korea remains fully committed to advancing development cooperation partnerships between our two countries,” the statement read. —Vince Angelo Ferreras/Michaela del Callar/LDF, GMA Integrated News