960425

More Pak-Korea

joine ventures

scressed

KARACHI: The Consul General of South Korea here, Dr. Moo Sam Chung has underlined the need to increase joint venture business between Pakistani and Korean companies.

Talking to the President, Chamber of Commerce and Industry, Karachi (KCCI), Haji Shafiqur Rehman during a meeting at the office here on Thursday, the Korean Consul General said that many Korean companies were keen to invest in Pakistan.

He said that he has been posted here only three weeks ago and was looking forward to a meaningful relationship with businessmen of the city. He said although the balance of trade between the two countries was in favour of Korea, he would try to bring about an increase in Pakistani exports.

He said a 10-member delegation of a Korean private company Lucky Goldstar, led by the Vice Chairman of the company, is coming to Pakistan to explore the joint venture opportunities with their Pakistani counterpart.

He said many Pakistani companies have already developed joint venture business with Korean companies. The major Korean companies like Daewoo, Hyundai, Samsug, Hyosung and Luck Goldstar are joining hands with Pakistani partners in various fields like construction projects, electronics, polyester fibre and chemical industry.

He said a number of Memoranda of Understanding (MoU) have been signed between the businessmen of both the countries.

Pakistan trade relations with South Korean have increased considerably during last six years. The exports which amounted to US Dollar 241.74 million in 1990-91 increased to US Dollar 271.78 million in 1994-95.-APP