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Manila Bulletin devider Philippines devider National devider Marcos' investment talks at APEC meet unaffected by corruption issues—DFA spox

Marcos' investment talks at APEC meet unaffected by corruption issues—DFA spox

Published Oct 28, 2025 03:42 pm
President Ferdinand 'Bongbong' Marcos Jr. will head for Busan and Gyeongju in South Korea to attend the 32nd Asia-Pacific Economic Cooperation (APEC) Leaders' Meeting from Oct. 30 to Nov. 2, 2025. (MB File, Wikipedia Photos)
President Ferdinand 'Bongbong' Marcos Jr. will head for Busan and Gyeongju in South Korea to attend the 32nd Asia-Pacific Economic Cooperation (APEC) Leaders' Meeting from Oct. 30 to Nov. 2, 2025. (MB File, Wikipedia Photos)
The current allegations of corruption in the government’s infrastructure projects will not impact the opportunities for investment that President Marcos might attract by attending the 32nd Asia Pacific Economic Cooperation (APEC) Leaders’ Meeting in Gyeongju, South Korea this week.
Department of Foreign Affairs (DFA) spokesperson Angelica Escalona assured this during a Palace press briefing on Tuesday, Oct. 28, wherein she expressed confidence on the interest of other countries to invest in the Philippines.
“Yes, opportunities for us to get more investments from the Republic of Korea,” she said when asked for possibilities of investments pledges from other countries and business leaders despite the corruption issues.
“We do not really see it, because what is happening now is really an expression of our democracy, what happens in our country and patuloy din naman ang interes (there is continued interest) in the Philippines on the economic side,” she added.
Escalona likewise assured that the South Korean government has expressed its willingness to continue supporting the Philippines’ development cooperation programs despite an earlier issue on a supposed infrastructure loan that South Korea allegedly pulled out amid the flood control corruption mess.
“Iyong isyu na iyon sa (That issue on the) alleged loan, we consider that a closed matter, the Republic of Korea has issued a clarification on this at sinabi na rin ng Korea (and Korea also said), they reassured us of their support for advancing development cooperation with the Philippines,” she stressed.
The issue stems from the reported cancellation of a 700-billion won (P28.7 billion) infrastructure loan to the Philippines announced by South Korean President Lee Jae Myung himself on Facebook.
In Lee’s post, he shared a South Korean news report that described the “PBBM Bridges” project—which would build some 350 modular bridges in rural areas nationwide—as a “poor project” and raised concerns about “corruption.”
On the other hand, Escalona affirmed the Philippines’ position to seek multilateralism as a way to move forward with its development goals, despite indications that Washington’s “America First” policy does not support APEC’s multilateralism principle.
“Our position as a developing country, we are for multilateralism and we support the WTO (World Trade Organization),” she said.
The APEC Meetings will run from Oct. 30 to Nov. 2.

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