By: Philippine Resources March 03, 2024

Stronger bilateral relations between the Government of the Philippines and the Republic of Korea will be instrumental in turning the infrastructure vision for “Bagong Pilipinas” into reality.

By supporting infrastructure development, from roads and bridges to flood control structures, the Republic of Korea thru the Korea Export-Import Bank (KEXIM) contributed to the journey together towards building a brighter Philippines with vital arteries that connect communities, facilitate trade, and spur economic activity across the country.

Top officials of the Department of Public Works and Highways (DPWH) led by Senior Undersecretary Emil K. Sadain held a meeting on February 26, 2024 with Vice-President Hong Soon-young of KEXIM, an official export credit agency in South Korea which provides financing for several infrastructure flagship projects in the Philippines.

On behalf of DPWH Secretary Manuel M. Bonoan, Senior Undersecretary Sadain expressed profound gratitude for the KEXIM’s steadfast support not only with the necessary financing capital but also the invaluable expertise, innovation, and best practices to infrastructure development initiatives which will undoubtedly make a leap forward to the “Build Better More” program of President Ferdinand R. Marcos Jr. administration.

Among the KEXIM-financed infrastructure flagship projects are the completed Samar Pacific Coastal Road Project (SPCR) Phase I in Northern Samar; soon to be completed Panguil Bay Bridge in Northern Mindanao and Integrated Disaster Risk Reduction and Climate Change Adaption Measures (IDRR-CCA) in the low-lying areas of Pampanga in Central Luzon; and the on-going detailed engineering design of Panay-Guimaras-Negros (PGN) Island Bridges in Western Visayas.

The engineering services of PGN Island Bridges are covered by a $56.6 Million loan agreement signed by the Department of Finance and KEXIM in 2022.

Yooshin Engineering Corporation in Joint Venture (JV) with Kyong-Ho Engineering & Architects Co., Ltd., Dohwa Engineering Co., Ltd., Soosung Engineering Co., Ltd. and Dasan Consultants Co., Ltd. are presently undertaking the engineering services for the 32.47-kilometer PGN Bridges connecting Panay Island, Guimaras Island and Negros Island.

The project has two (2) components: 13 kilometers Panay-Guimaras or Section A that will have a sea-crossing bridge length of 4.97 kilometers; and Guimaras-Negros or Section B with a total length of 19.47 kilometers including a sea-crossing bridge with length of 13.11 kilometers.

The meeting at KEXIM headquarters in Seoul was also attended by Ambassador Maria Theresa B. Dizon-De Vega and Vice Consul Reisha L. Olavario of the Embassy of the Philippines to the Republic of Korea, and the following DPWH officials who are on observation tour with Senior Undersecretary Sadain for the detailed engineering design of PGN Island Bridges Project: Undersecretaries Carlos G. Mutuc, Eugenio R. Pipo Jr., Roberto R. Bernardo, Ador G. Canlas, and Eric D. Ayapana; OIC-Undersectary Marichu A. Palafox; Assistant Secretary Joy Manginsay; Project Directors Benjamin A. Bautista, Ramon A. Arriola III, and Director Randy R. Del Rosario.

Other KEXIM Executives who participated in the meeting include Director Kim Yu-shin; Senior Loan Officers Shin Yu-Jin and Hwang Eun-ghil; and Loan Officers Song Yoo-Hwan and Kim Haeju.

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