Newly-installed South Korean Ambassador to the Philippines Lee Sang-hwa on Friday, July 14, vowed to do his best to forge stronger ties between the two nations as Seoul aimed to partner with Manila in its development thrust.
President Ferdinand 'Bongbong' Marcos Jr. and South Korean Ambassador to the Philippines Lee Sang-hwa share a conversation during the inauguration of the Samar Pacific Coastal Road Project on July 14, 2023. (Photo courtesy of Embassy of South Korea in the Philippines)
The signing of the Economic Development Cooperation Fund (EDCF) amounting to $3 billion between Seoul and Manila in 2022 was actually "a testament" of the South Korean government’s commitment as a reliable partner of the Philippines in the years to come, Lee said.
At the inauguration of the Samar Pacific Coastal Road Project (SPCR), the envoy said a tie-up between the government and the private sector was necessary to help the people.
SPCR was constructed with the financial help of the South Korean government through the Export-Import Bank of Korea.
"The SPCR is a backbone project that involves several stakeholders," he said.
"As such, it can support the entire province and the local communities which stand to gain from this grand infrastructure project," he added.
Lee said he and the South Korean government are proud of being part of the project that was completed despite challenges brought by the Covid-19 pandemic.
"This also aligns well with the Indo-Pacific Strategy of President Yoon Suk Yeol of the Republic of Korea," he said.
"Enhancing connectivity prominently features in this strategy, so the Korean government is looking forward to partnering with the Philippine government in its development thrust," he added.