PH Partners with South Korea for Transformative Infrastructure Development Projects
DPWH delegation led by Undersecretary Emil Sadain with Ambassador Theresa Dizon-De Vega met with KEXIM Bank Vice President Hong Soon-young and other EDCF officials. Bottom: DPWH delegation led by Undersecretary Emil Sadain with Ambassador Theresa Dizon-De Vega at the Yooshin Engineering Headquarters during the 1st Technology Transfer for DPWH in South Korea.(Seoul PE photo)
SEOUL 04 March 2024 – The Philippines is strengthening economic cooperation with the Republic of Korea through transformative infrastructure development projects that will massively improve our island nation's physical connectivity on the 26th of February 2024.
Senior officials from the DPWH led by Senior Undersecretary Emil K. Sadain was in the Republic of Korea from 26-29 February 2024 for official meetings with Korean financing institution Korea Export-Import Bank (KEXIM) and Korean construction companies supporting key infrastructure development projects which will turn the infrastructure vision for "Bagong Pilipinas" into reality.
During the meeting with KEXIM senior officials led by Vice-President Hong Soon- young, Undersecretary Sadain underscored the importance of the Philippines and the Republic of Korea working closely together to support infrastructure development, from roads and bridges to flood control structure through the Korea Export-Import Bank (KEXIM). KEXIM is an official export credit agency in the Republic of Korea that provides financing for several infrastructure flagship projects in the Philippines.
Philippine Ambassador to the Republic of Korea Ma. Theresa B. Dizon – De Vega, for her part, emphasized how large-scale infrastructure projects supported by the Republic of Korea help transform not just the Philippine economy as a whole, but also the daily lives of the Filipino people who will benefit the most from physical connectivity.
Since the Philippines and the Republic of Korea are celebrating 75 years of diplomatic relations in 2024, Ambassador Dizon-De Vega also reaffirmed that both countries are committed to working together to elevate relations and collaborate on economic projects that will inject fresh opportunities for trade and investment, connectivity, and economic growth under the "Build Better More” program of President Ferdinand R. Marcos Jr.
KEXIM infrastructure projects in the Philippines include the completed Samar Pacific Coastal Road Project (SPCR) Phase I in Northern Samar; the 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. Aside from capital, KEXIM also provides capacity-building expertise to infrastructure development initiatives in the Philippines.
Furthermore, the Panay-Guimaras-Negros (PGN) Island Bridges, a priority project of the Marcos Administration, is supported by the consulting services of specialized construction and engineering company Yooshin, one of the leading engineering firms in the Republic of Korea.
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. is presently undertaking the engineering services for the 32.47-kilometer PGN Bridges connecting Panay Island, Guimaras Island and Negros Island.
During the meeting with Yooshin Engineering Corporation, Ambassador Theresa Dizon-De Vega emphasized that the Panguil Bay Bridge and the Panay-Guimaras- Negros Island Bridges contribute to the Philippines’ Build Better More Project as these are “transformative and legacy infrastructure projects that help address Philippines issues on connectivity.” DPWH Usec. Sadain expressed confidence in the partnership of the Philippines with Yooshin on connecting bridges and flood control projects, noting their long portfolio of special bridges, highways, and major expressways both in the Republic of Korea and overseas.
Yooshin has built its name as a firm specializing in transportation facilities such as roads, bridges, tunnels, railways, and ports, having participated in the construction and design of major Korean bridges, as well as infrastructure development projects of countries overseas.
The project has two (2) components: 13 kilometers Panay-Guimaras or Section A 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 length of 13.11 kilometers. The total cost of the project is PHP 189 billion, and the completion of the detailed engineering design is set by the end of December 2024.
The meetings at KEXIM headquarters and Yooshin Corporation in Seoul were also attended by Undersecretaries Carlos G. Mutuc, Eugenio R. Pipo Jr., Roberto R. Bernardo, Ador G. Canlas, and Eric D. Ayapana; OIC-Undersecretary Marichu A. Palafox; Assistant Secretary Joy Manginsay; Project Directors Benjamin A. Bautista, Ramon A. Arriola III, and Director Randy R. Del Rosario. H.E. Ambassador to Korea Theresa Dizon-De Vega and Third Secretary and Vice Consul Reisha L. Olavario of the Philippine Embassy assisted the delegation. Senior officials and members of the DPWH also visited landmark bridges in the Republic of Korea to observe construction best practices and facilitate technology transfer. END
Top: During the meeting with KEXIM senior officials led by Vice-President Hong Soon-young, Undersecretary Sadain underscored the importance of the Philippines and the Republic working closely together to support infrastructure development, from roads and bridges to flood control structure through the Korea Export-Import Bank (KEXIM). Top right: The Panay-Guimaras-Negros Island bridge is assured of funding under the Philippines’ international development financing mechanisms. Bottom photos: Ambassador Theresa Dizon-De Vega delivers an intervention (left), the Ambassador, Senior Undersecretary Sadain and KEXIM Vice-President Hong Soon-young discuss PH projects after the meeting (right). (Seoul PE photo)
Top left to right: The DPWH delegation led by Undersecretary Emil K. Sadain with Ambassador Theresa Dizon-De Vega during their meeting at Yooshin Engineering Corporation. Below: The meeting discussed the ways forward of the Panay-Guimaras-Negros (PGN) Island bridges project. Yooshin Engineering, along with a consortium of engineering firms in South Korea, is in charge of the detailed study and design of the PGN island bridges. (Seoul PE photo)
For more information, visit https://www.seoulpe.dfa.gov.ph, https://www.philembassy-seoul.com or https://www.facebook.com/PHinKorea/.