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Manila Bulletin devider World devider S. Korean leader halts funding support for PH bridges project over corruption concerns

S. Korean leader halts funding support for PH bridges project over corruption concerns

Published Sep 10, 2025 11:03 am

SEOUL, South Korea - South Korean President Lee Jae-myung has ordered an immediate halt to a 700 billion Korean won loan support from his government to a Philippine bridges project over corruption concerns.

In a Facebook post on Sept. 9, President Lee said: “We have ordered the immediate suspension of procedures regarding the project that was deemed a faulty undertaking with potential for corruption.”

The President posted on Facebook the link to an investigative report by Hankyoreh 21, stating the project in question as the proposed building of modular bridges in 350 locations in the Philippines, of which the Philippine government asked the South Korean government for loans.

“What is most fortunate is that the project had not yet commenced, and thus, no funds - including those from the Economic Development Cooperation Fund (EDCF)- had been expended,” Lee said.

“The fact that as much as 700 billion won in taxpayers’ money was spared from unnecessary waste, and that risks leading to mismanagement and corruption were prevented in advance, carries great significance,” he added.

Based on the Hankyoreh 21 report, the Philippine government submitted an application to the Korean government in November 2023 to request the EDCF loan of $510 million or about 710 billion won for the modular bridges project.

The project reportedly aims to improve the accessibility of farmers and agricultural products by constructing steel modular bridges in 350 rural areas in the country - 210 in Luzon, 88 in the Visayas, and 53 in Mindanao.

Korea’s Ministry of Economy and Finance had earlier refused to support the project reportedly due to the possibility of insolvency and corruption.

But a representative of the People Power Party, identified as Kweon Seong-dong, reportedly interceded for the project to push through in exchange for nickel mining right that he was supposed to secure from the Philippine government.

“The press serves as a watchdog of power and as bulwark against corruption, playing an essential role in building a fair and just world,” President Lee emphasized.

“I extend my deepest gratitude to the courage and dedication of the media, who, through this investigative reporting, have widely revealed the truth and safeguarded the people’s right to know,” he added.

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