South Korea to build $50 million IT park in Pakistan

, 11:25 AM IST

South Korea to build an IT park in Islamabad to improve trade ties between the two countries.
Dr Song Jong-Hwan, South Korean Ambassador declared their decision of establishing it at a gathering at ICCI- Islamabad Chamber of Commerce and Industry.

The Exim Bank of Korea has agreed to provide $50 million for the establishment of the park.
South Korean teams are expected to conduct a feasibility study with assistance from the Ministry of IT and Pakistan Software Exports Board (PSEB).

It is expected that the IT park will not only attract international companies to develop software and hardware solutions but will also help boost the country’s IT exports.

“Establishing the park will promote small and medium enterprises as well,” Dr Song said.

He added “The IT park would be set up in collaboration with the Ministry of IT in Pakistan and will provide the most advanced business facilities to IT companies in the country”