Pakistan Cyber Force: Korea to make Large investments in Pakistan, strengthen bi-lateral relations

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Pakistan Cyber Force [Official]

Wednesday, October 19, 2011

Korea to make Large investments in Pakistan, strengthen bi-lateral relations

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    Ambassador of the Republic of Korea, Choi Choong Joo has said that his government fully encourages and supports the increased commitment of Korean companies in their investments and development works in Pakistan. Korean company Sangyong has just completed repairing KPT berths to enhance it capacity.

    He said his country enjoys good and mutually beneficial relationship with Pakistan and has recently offered $180 million in an extremely soft loan to Pakistan. Additionally Korea has funded several projects such as the newly inaugurated Garment Technology Institute.

    Referring to increase in commitment of Korean companies for their investments and development works in Pakistan, he said presently 20 Korean firms are engaged in various projects and that the Korean firm Sangyong has just completed repairing KPT berths to enhance the capacity of this vibrant port. "Posco has also made an initial investment in Pakistan and we hope to see more investments from them in the future. Recently, Hyundai has taken up a project for UCH-II to expand the capacity of the power plant in Balochistan and the ADB. Koexim has also approved a loan for the Patrind hydropower project being developed by K-Water, Daewoo and Sambu," he said.

    Korea has also financed "Provision of water supply & sewerage drainage schemes", the "National Capacity Building Institute for Water Quality Management"
    , trainings in Korea for Pakistani government officials and vocational training to crisis affected youth of Malakand, he added.

    He said the Republic of Korea and the Islamic Republic of Pakistan enjoy a good, mutually beneficial relationship. The bonds of friendship between our two people have been strengthened over the years. Korea looks forward to playing an even greater role in the development of Pakistan in the coming years and welcomes a new phase of friendship that encompasses even greater trade, investment, cultural and educational links. 
    "We believe that senior level meetings in the future will further strengthen our bonds, and look forward to the new phase of Pakistan-Korea friendship, with the hope that it ushers in a new era social uplift and economic betterment for both our people", he maintained.

    Pakistan Cyber Force

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