SOUTH KOREA will fund a $10-million circular-economy project for Navotas focused on a network of upcycling and recycling facilities penetrating to the barangay level.
The proposed project, which runs from 2026 to 2031, will tap Korean aid in creating materials recovery facilities, Yoo Ji-young, the Korea International Cooperation Agency (KOICA) Philippine Office deputy director, said at a forum hosted by the ASEAN-Korea Centre on Thursday.
The project hopes to encourage the development of upcycling and recycling startups, she added.
KOICA approved the project proposal in March after a preliminary review in January.
The Korean government’s final approval is expected by the third quarter.
An implementation survey is scheduled for the third or fourth quarter of 2025.
South Korea is also set to turn over a marine clean-up vessel to the Philippine government in February. — Kyle Aristophere T. Atienza