BALER, Aurora (PIA) — The Aurora Pacific Economic Zone and Freeport Authority (APECO), South Korea’s Yooshin Engineering Corporation, and the Philippines’ Lordsbridge Resources Corporation have signed a tripartite agreement aimed at strengthening Pacific trade connectivity and accelerating sustainable economic growth through the development of the Casiguran International Port.
APECO President and CEO Atty. Gil G. Taway IV said the partnership seeks to address logistical bottlenecks in the country and transform Casiguran into a strategic logistics and trade hub that connects the Philippines directly to Pacific routes and markets in Northeast Asia and the Northern Pacific.
“The overconcentration of ports in western Luzon has long created logistical bottlenecks, unequal growth, and high transport costs that burden our industries and communities. Through this partnership, APECO aims to correct that imbalance by developing Casiguran Port into a resilient gateway that opens the Philippines directly to Pacific trade routes and drives inclusive development across the eastern corridor of Luzon,” Taway emphasized.
Under the agreement, Yooshin Engineering, a firm with extensive experience in large-scale infrastructure development, will update the 2011 Korean Export-Import (KEXIM) Bank feasibility study to evaluate the technical, financial, environmental, and social viability of the port project.
Yooshin Engineering Director Jin Ho Lee expressed strong support for APECO’s vision of positioning Casiguran as a major trade and logistics node.
“Yooshin believes in APECO’s vision to transform Casiguran into a strategic trade and logistics hub. Our participation reflects our confidence in APECO’s leadership and in the Philippines’ capacity to build globally competitive infrastructure,” Lee said.
Meanwhile, Lordsbridge Resources Corporation will serve as the project’s developer and funding coordinator, working with Korean and international financial institutions to secure investor participation and ensure long-term financial sustainability.
“Building a port that faces the Pacific is visionary. Modern engineering, coupled with careful environmental planning, allows us to create infrastructure that can withstand the region’s natural challenges. Sustainability is at the heart of this partnership,” Lordsbridge President Victor Lee said.
The Casiguran International Port, under a five-year development plan, is expected to handle more than one million tons of cargo annually, serving as the logistics backbone of the APECO Freeport and strengthening Aurora’s position as a key trade hub in the Pacific region. (MJSC/MJRD/PIA 3–Aurora)
