The Chinese planes cost more money to operate than they brought in, and Nepal Airlines was racking up losses dangerously.
Filipino billionaires lost a combined $7 billion over the last year as their fortunes were pummeled by the plunging value of the peso against the US dollar.
China has strongly opposed the deployment, saying that Korea’s US-made defense system undermines its security.
Philippine ambassador to Washington Jose Romualdez said the decision to cancel was triggered by "the Ukrainian war".
The bill stipulates a series of measures so as to encourage companies to build factories in the US.
Three aircraft from the Japan Air Self-Defense Force and two from the US Air Force participated in the drill held Aug 4.
The three-day downpours also left many public facilities out of service, with six cases of flooded railroads reported in the wider Seoul area.
The National Centre for Hydro-Meteorological Forecasting warned that the maximum rainfall is forecasted to be up to 250mm.
The ministry also stressed that “homosexuality is not an illness, and therefore cannot be ‘cured’, need not be ‘cured,’ and there is no way of changing this”.
The United States is concerned about China's ambitions to extend its military presence in the Pacific after it struck a security pact with the Solomon Islands this year.