South Korea companies to make multi-million dollars investment in Pakistan

Karachi: Top South Korean companies are in talks for millions of dollars investment in Pakistan’s hydro dams, petrol chemicals, power generation and agro processing sectors, says Republic of Korea Ambassador Choong Choi.

Addressing news conference Monday at a local hotel, he said already 20 South Korean companies including Samsung, Posco, Hyundai, LG and Lotte are operating in Pakistan’s manufacturing, technology and services sectors. He said the annual trade volume between the two countries was just over US$1 billion.

Choi felt that there was huge room for more trade and investment. With Pakistan rich in human and natural resources and South Korea having high technology, both sides can enhance their cooperation further in a number of fields for mutual benefit, he added.

Ambassador highlighted the age old historical and cultural links between Pakistan and South Korea. He announced that a Korean Film Festival being held in Karachi next month would be organized by ROK Consulate. He underlined the need for more people to people contacts and exchange of information.

There was imperative need to materialize the potential of enhancing relations between the two countries in various fields including tourism, Choi added. ROK Consul General in Karachi was also present.

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