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Home Business

South Korea and Pakistan Eye Mega Projects Based on CPEC Model, Says Ambassador

by Alina Fida
August 12, 2024
in Business, Main, New, News, Pakistan
Reading Time: 1 min read
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South Korea and Pakistan Eye Mega Projects Based on CPEC Model, Says Ambassador

South Korea and Pakistan Eye Mega Projects Based on CPEC Model, Says Ambassador

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South Korean Ambassador to Pakistan, Park Ki Jun, has proposed that Pakistan and South Korea collaborate on large-scale projects similar to those established under the China-Pakistan Economic Corridor (CPEC). In an exclusive interview with Radio Pakistan’s News and Current Affairs Channel, Ambassador Park highlighted the potential for cooperation in various sectors, including energy and infrastructure, using the successful CPEC model as a blueprint.

Ambassador Park acknowledged the transformative impact of the CPEC project, noting that a similar approach could significantly enhance bilateral cooperation between South Korea and Pakistan. He emphasized Pakistan’s skilled workforce, despite current liquidity challenges, as a key asset for potential Korean investments, particularly in the IT sector.

The Ambassador pointed out the need to improve trade relations between the two countries, citing the current trade volume of $1.2 billion as far below the potential. He stressed that while Pakistan possesses abundant natural resources and a dynamic labor force, South Korea’s advanced technology and economic progress present opportunities for mutual benefit.

Furthermore, Ambassador Park expressed a desire to strengthen people-to-people connections, reflecting South Korea’s admiration for Pakistan’s cultural heritage, particularly the Gandhara civilization. To foster these ties, a Korea-Pakistan Gala will be held in Islamabad this October. The event will feature participation from Pakistani government officials and artists from both nations, celebrating the deepening cultural and economic relationship between the two countries.

Tags: latestPakistan
Alina Fida

Alina Fida

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