The Korean Embassy in Manila has clarified that the suspension of a feasibility study on a rural bridge project in the Philippines was not linked to the Philippine government.
In a statement released Friday, the embassy said the decision was “solely to allow for the verification of matters that had been raised in Korean media reports,” adding that the move was intended to address issues surrounding the loan approval process on their side.
“The suspension of the feasibility study on the project in question is unrelated to the Philippine Government,” the embassy emphasized, noting that the initiative will remain on hold until further notice.
The Department of Finance (DOF) earlier explained that discussions with South Korea had already been stalled since last year after the Department of Agrarian Reform flagged technical and scope misalignments. The project, initially dubbed the PBBM Rural Modular Bridge Project, was being considered under a loan arrangement with Seoul.
Korean President Lee Jae Myung announced the suspension after Korean magazine Hankyoreh21 reported allegations that the project had been revived due to political pressure from a lawmaker despite being previously rejected by South Korea’s Ministry of Economy and Finance.
The DOF confirmed that the Philippines has since shifted its focus to other partners. Talks are now in the advanced stage with France to provide funding for the ₱28-billion bridge program.
“The government is now in advanced negotiations with the French Government to finalize the project’s technical and financial terms,” the DOF said.
