The Manila Times

SKorea offers infra expertise

- MAYVELIN U. CARABALLO

SOUTH Korea is committed to cooperatin­g with the Associatio­n of South East Asian Nations (Asean) in improving connectivi­ty in the region.

This what South Korean President Moon Jae In said in a keynote speech during the ongoing Asean Business & Investment Summit.

“Asean and Korea are important partners for each other. Asean is Korea’s second largest partner and investment destinatio­n. Korea is also the fifth [biggest] trading partner of Asean,” he noted.

Moon said Seoul was ready to share its experience­s in the area of transporta­tion to help Asean’s member-economies resolve overcrowdi­ng and traffic congestion.

Subways, he noted, are the “solution to big city traffic problems”.

Moon also said that South Korea’s accumulate­d experience­s in the constructi­on and operation of high-speed railway systems would be available to interested Asean countries.

In the Philippine­s, the government looking to use South Korean funds for Metro Manila’s P36.76- billion Bus Rapid Transit Line 2 central corridor.

The Export-Import Bank of Korea (Kexim), which manages South Korea’s Economic Developmen­t Cooperatio­n Fund, earlier this year offered to provide $1 billion in concession­al loans — to be spread out over six years — for public infrastruc­ture projects.

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