President Asif Ali Zardari on Monday invited South Korean companies to invest in the country especially in the water and power sector. The President said that Pakistan was keen to learn from the South Korean expertise in flood control, drudging as well as in power generation and would welcome sharing of technical know-how and assistance by South Korea.
He expressed these views in a meeting with Myung-Pil Shim, Minister for National River Restoration of South Korea, here at Aiwan-e-Sadr here. President Zardari highlighted the Pak-South Korea relations and the great importance Pakistan attaches to its relations with South Korea. He said that Pakistan was impressed with the progress achieved by South Korea in the past five decades and wanted to benefit from its experience.
He said that Pakistan also wanted to strengthen and expand its relations with the Republic of Korea in the political, economic, trade, culture, education and in the area of security. He said that Pakistan wanted to learn from the Korean experience of growth and progress. The President thanked the Korean government for their assistance to Pakistan during 2005 earthquake and in the aftermath of devastating floods of 2010 and 2011. He appreciated the Korean assistance to the country at the platform of Friends of Democratic Pakistan.
Appreciating Korea's expertise in flood control and water conservation through the Restoration of Four Rivers Project, the President said that the two countries could cooperate in the field to mutual benefit. He said that the signing of MoU between the National Emergency Management Authority of Korea and the National Disaster Management Authority would be another important milestone in further expanding the mutual co-operation and providing framework for combating floods and other natural disasters.
The President said that trade was another area where there was immense scope of further expanding the mutual co-operation. He expressed satisfaction over the investments by large Korean conglomerates in the area of chemical, hydel power, roads, infrastructure, wind and thermal power and port facilities.
He said that Pakistan offered great investment opportunities and invited Korean companies to benefit from a domestic market of more than 180 million people and the regional market of Central Asian countries, which are rich in oil and gas resources. He said that huge coal reserves and the potential of hydel and wind power could be harnessed with the Korean assistance in a win-win for both the countries.
The President also conveyed his greeting to President Lee Myung Bak and to the government and the people of Korea on his own behalf and on behalf of the government and the people of Pakistan. Myung-Pil Shim thanked the President for welcoming his delegation and assured that the Korean government continued assistance to the government of Pakistan.
The South Korean delegation headed by Myung-Pil Shim, included among others, Jung Hee Kyu, Director Minister of National River Restoration, Kim Jeung, Director General K Water Project, Kim Seung, Specialist River Ministry, Waqar Khan, CEO Star Hydropower and Choko Rae, Charge d' affaires Embassy of Korea. The Pakistan side included Chaudhry Ahmed Mukhtar, Minister for Water and Power, Hamayatullah Khan, Special Secretary Water and Power, Major Haroon Rashid (retd), Special Secretary, Shakeel Durrani, Chairman Wapda, Mazhar Ali Shah, Chairman IRSA, Spokesperson to the President Senator Farhatullah Babar and others.