Tacloban City, Philippines - On 14 July 2023, President Ferdinand R. Marcos, Jr. led the inauguration of the Samar Pacific Coastal Road (SPCR) project phase 1 in Northern Samar which was completed after five years of construction. The project was funded by the government of the Republic of Korea through the Export-Import Bank of Korea (KEXIM). The PHP1.12 billion SPCR project phase 1 has opened with 11.6-kilometers of concreted road stretch, including three bridges.

In his remarks, President Marcos was hopeful that the project will soon bring development to Northern Samar's agricultural sector. He said "With the opening of this road and its bridges, the development of Northern Samar's rich agricultural lands and bountiful fishing grounds will follow suit. It will also expedite the delivery and movement of our basic goods and services, which will hopefully boost our people's quality of life."

He added that this undertaking, strengthens the Philippine government's effort to address insurgency in the province and "ensure that economic gains and basic service will reach everyone on the island."

Cooperation in infrastructure development to increase movement of people and goods, improve the delivery of services, and stimulate economic and business activities are some of the key priorities of PH-ROK bilateral relations.

In addition to the SPCR, ROK is also funding twenty-one (21) other projects in the Philippines. The Philippines is looking forward to pursue more collaboration and more flagship projects with the Republic of Korea. END