The Governments of the Republic of the Philippines and Republic of Korea signed on 23 August 2012 a Loan Agreement to support the implementation of the Puerto Princesa Airport Development Project of the Department of Transportation and Communications (DOTC). Finance Secretary Cesar V. Purisima signed the Loan Agreement on behalf of the Philippine Government while Export-Import Bank of Korea (KEXIM) Chairman and President Yong Hwan Kim signed on behalf of the Republic of Korea.
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