Islamabad: According to news reports, Ambassador of the Republic of Korea Suh Sang-Pyo said on Tuesday (August 17) that Korean enterprises are pleased with Pakistan’s economic success and want to extend partnership in hydropower projects and other areas.

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The ambassador met with Shaukat Tarin, the Federal Minister of Finance and Revenue, who briefed him on recent developments in the industrial sector as well as government initiatives to encourage businesses in various industries.

Ambassador Sang-Pyo was informed by the finance minister on the government’s recent comprehensive efforts to stimulate industrialization, notably in the automotive and information technology industries.

He also gave him an overview of the government’s short, medium, and long-term growth strategies in important industries. He congratulated the ambassador on Korea’s USD 500 million investment in information technology, education, and healthcare programs.

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The ultimate purpose of the country’s industrialization and foreign direct investment (FDI), according to Tarin, is to produce jobs, effective resource mobilization, and industrial advancement. He invited Samsung, a Korean mobile phone manufacturer, to Pakistan.

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