SK President Lee suspends PBBM rural bridge project over fraud fears

South Korean President Lee Jae-myung ordered the suspension of a Philippine rural modular bridge project, citing fraud concerns.

The project, intended for the "PBBM Rural Modular Bridge Project" and named after Philippine President Ferdinand Marcos Jr., was to be funded by Korea's Economic Development Cooperation Fund (EDCF).

The suspension came after Korean finance officials and a Korean lawmaker raised concerns regarding the project's weak feasibility and high corruption risks.

President Lee announced the suspension on his official Facebook page, emphasizing that no funds had been disbursed, thus preventing a potential waste of Korean taxpayer money.

The South Korean government had initially decided not to support the project in February 2024 due to corruption concerns linked to a local Filipino contractor with a history of faulty construction and graft.