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South Korea halts feasibility study on Philippines bridge projects
The Embassy of the Republic of Korea in the Philippines has clarified that the suspension of a feasibility study for an infrastructure project is an internal decision not linked to the Philippine government.
The Korean Embassy stated that the suspension is solely for verifying issues raised in Korean media reports.
This decision means the project will be temporarily halted until further notice.
It is understood that South Korean President Lee Jae-myung ordered the halt of a P28-billion infrastructure loan project due to allegations of corruption.
President Lee Jae-myung cited a report from The Hankyoreh regarding the Philippines' 2023 request for a loan through the Economic Development Cooperation Fund to build 350 bridges.
The South Korean President also announced an ongoing investigation into anomalous flood control projects in the Philippines.
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News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
South Korean President Lee Jae-myung has halted proceedings for a multi-billion development loan for the Philippines' PBBM Rural Modular Bridge Project due to allegations of fraud and corruption.
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The Philippines is seeking funding from France for the P28-billion Rural Modular Bridge Project after halting discussions with South Korea.
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South Korean President Lee Jae-myung ordered an immediate halt to a P28.7 billion infrastructure loan project to the Philippines, citing potential corruption and taxpayer money waste.
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