South Korea Investing in Pakistan's Software Potential
The South Korean Ambassador to Pakistan has announced his country aims to build a world-class IT Park in Islamabad with an investment of USD 50 million. The investment is being provided by South Korea-based Exim Bank. He added that his country’s experts would soon complete the initial feasibility report of proposed IT Park that will complete in next four years and would enable global IT giants to open their franchises in Pakistan.
“The park will be constructed on an area extended to one million square feet, and we will also encourage the small and medium grade IT companies of Pakistan to share the site with international conglomerates,” he added.
Pakistan and South Korea have seen a decline in bilateral trade by 37 percent over the past three years, which is a depressing and state. The ambassador highlighted “The reduced availability of information required to export and import of goods between both countries was one of the key reasons behind decreased trading among Pakistan and South Korea,” . However, the initiatives such as the construction of IT Park will help two countries to enhance their trade in IT sector to boost the bilateral relationship.