Pakistan’s economic growth impresses Korean companies’

LAHORE, Aug 9 (APP): Economic growth of Pakistan has
impressed Korean companies and they are eager to establish
and develop their business operations here in collaboration
with their Pakistani counterparts.
These views were expressed by Speaker of South Korean
National Assembly Chung Sye Kyun while speaking at the
Lahore Chamber of Commerce and Industry on Wednesday.
LCCI President Abdul Basit, Senior Vice President
Amjad Ali Jawa, Vice President Muhammad Nasir Hameed Khan,
Provincial Minister for Industries Sheikh Alauddin and MNA
Qaiser Ahmed Sheikh also spoke while Chairman TEVTA Irfan
Qaiser Sheikh, Zafar Iqbal Ch, Zeeshan Khalil, Mian Abdul
Razzaq, Awais Saeed Piracha, Mian Muhammad Nawaz, Tariq
Mahmood, Tahir Manzoor Ch, Syed Mukhtar Ali and members of
Korean Parliament were present on the occasion.
Chung Sye Kyun said that both countries were enjoying
good historic relations while a number of Korean companies
were already working in Pakistan successfully.
He expressed the optimism that the volume of trade
between Pakistan and South Korea was bound to increase as both
the governments were taking measures to get the desired
He said that the Korean delegation had a number of
high-profile useful meetings with government officials and
representatives of private sector.
Provincial Minister Sheikh Alauddin said that both
countries had common history and supported each other during
testing times. He said that South Korea had played a
significant role in economic development of Pakistan and
completed many mega projects including Islamabad-Lahore
Motorway. He said the government was encouraging foreign
investment. Korean investors should come forward and avail
this opportunity, he added.
LCCI President Abdul Basit said that exchange of
parliamentary delegations between Pakistan and Korea was
indeed a commendable activity. He said, “South Korea is
famous for its spectacular rise from under developed economy
to developed, high income economy in just a few decades.
It has a literacy rate of almost 100%. Its literacy,
education and agrarian reforms translated into industrial
He said that education paved the way for innovation and
creativity. Industrial growth transformed the living standards
for the marginalized group and this was the only way to improve
the living standards, he added.
He said, “South Korea is one of the most popular destinations
for higher studies. We need to enhance relations and liaison with
South Korean universities which will help us in producing
hardworking and skilled employees.”
Abdul Basit said that South Korea had one of the largest
Pakistani communities in Asia. It also remained a popular
destination for many Pakistanis as they found equal opportunities
to contribute in that society and were playing excellent role in
all the segments of life, he added.
South Korea was pioneer in export led growth model, he said
and added Pakistan needed advice to increase its exports.
LCCI Senior Vice President Amjad Ali Jawa invited the Korean
investors to take full advantage of the trade and economic
opportunities available in pharma sector of Pakistan at vast scale.