Manila: The suspension of a Korean feasibility study on a rural bridge project in the Philippines was 'unrelated to the Philippine Government,' the Korean Embassy in Manila clarified Friday. In a statement posted on its social media page, the embassy said the decision was meant solely to help address concerns raised by the Korean press, which include issues on the loan approval process from the Korean side.

According to Philippines News Agency, the suspension of the feasibility study on the project in question is unrelated to the Philippine Government. The decision was made solely to allow for the verification of matters that had been raised in Korean media reports. The project in question will be put on hold until further notice.

The Department of Finance (DOF) earlier said the project in question, the PBBM Rural Modular Bridge Project loan, was initially considered for funding through South Korea. However, the Department of Agrarian Reform (DAR) decided to halt previous discussions as early as last year due to non-alignment on scope and other key technical specifications.

Korean President Lee Jae Myung announced through his Facebook page the suspension of all procedures related to the project following a report by Korean news magazine Hankyoreh21. The expos© alleges that the project was revived under political pressure from a Korean lawmaker despite an earlier loan request rejection by the Korean Ministry of Economy and Finance.

As early as the last quarter of 2024, the DOF said the Philippines has decided to look for other bilateral partners that can implement the full scope of the program. It said the Philippine project amounting to PHP28 billion is currently being proposed to be funded by France. "The government is now in advanced negotiations with the French Government to finalize the project's technical and financial terms," the DOF said.