Ang Pahayagan

AURORA-A major step toward transforming Aurora into a key maritime and logistics gateway to the Pacific has been taken following the signing of a tripartite memorandum of agreement (MOA) between the Aurora Pacific Economic Zone and Freeport Authority (APECO), Yooshin Engineering Corporation of South Korea, and the Lordsbridge Resources Corporation of the Philippines.

The agreement, formalized on Tuesday, October 28, at Shangri-La The Fort, Bonifacio Global City, Taguig City, signals the start of the Casiguran International New Port development — a flagship infrastructure project that aims to connect the Philippines directly to Pacific shipping routes and the markets of Northeast Asia and the Northern Pacific.

APECO President and CEO Atty. Gil G. Taway IV led the signing with Yooshin Director and Philippine Regional Representative Mr. Jin Ho Lee and Lordsbridge Resources President Mr. Victor Lee.

“This partnership will correct the imbalance caused by the overconcentration of ports in western Luzon, which has long created logistical bottlenecks and unequal growth,” said Taway. “The Casiguran Port will open the Philippines directly to Pacific trade routes and drive inclusive development across the eastern corridor of Luzon.”

Renewed Korea–Philippines Cooperation

The partnership reflects a renewed phase of Korea–Philippines cooperation in infrastructure development. Yooshin Engineering, a firm renowned for its work on the 32.47-kilometer Panay–Guimaras–Negros (PGN) Bridges and the Cebu International Container Port, will spearhead the updating of the 2011 feasibility study originally funded by the Korean Export-Import (KEXIM) Bank.

The updated study will cover the project’s technical, financial, environmental, and social components, laying the groundwork for investment and development.

Meanwhile, Lordsbridge Resources Corporation will act as the developer and funding coordinator, engaging Korean and other international financial institutions, while APECO will provide policy, logistical, and data support.

A Strategic Pacific Gateway

The original 2011 KEXIM feasibility study identified Bangas Point in Casiguran Bay as the most suitable location for the port due to its deep waters and natural protection from typhoons. The study estimated a construction cost of USD 56 million, which now translates to around USD 83 million (PHP 4.7 billion) when adjusted for inflation.

Once completed, the Casiguran Port is expected to handle over one million tons of cargo annually, featuring multipurpose berths, passenger and fishery wharves, and supporting facilities. It will serve as the logistics backbone of the APECO Freeport and catalyze economic activity in Northern Aurora and adjacent provinces.

Yooshin’s Mr. Jin Ho Lee emphasized the firm’s long-term commitment to the project, saying: “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.”

A Vision of Sustainable and Resilient Growth

Lordsbridge President Victor Lee highlighted the project’s sustainability and environmental priorities:

 “Building a port that faces the Pacific is visionary. Modern engineering and careful environmental planning make it possible to create infrastructure that can withstand natural challenges. The Casiguran Port will be designed not just for trade, but for long-term resilience — benefiting communities today while safeguarding the environment for future generations.”

Phased Development Until 2030

The development will proceed in phases, starting with the updated feasibility study from 2025 to 2026, followed by design and regulatory approvals in 2026–2027, construction and development from 2027 to 2030, and full completion targeted by 2030.

Once realized, the Casiguran International New Port will not only boost trade and logistics in the eastern seaboard but also strengthen national defense, energy, and food security — aligning with the Marcos administration’s strategic development agenda.

Located in Casiguran, Aurora, APECO remains the only Philippine economic zone with direct access to the Pacific Ocean, positioning it uniquely to serve as a national defense hub, clean energy center, and fishing capital of the Pacific. (Jason de Asis)

TOP 📸. APECO has partnered with South Korea’s Yooshin Engineering Corporation and the Philippines’ Lordsbridge Resources Corporation to develop the Casiguran International New Port — a major gateway project connecting Aurora to Pacific trade routes. The landmark deal marks a renewed Korea–Philippines cooperation aimed at transforming Casiguran into a strategic maritime and logistics hub by 2030. (Jason de Asis)