ISLAMABAD: South Korea wants to improve trade ties with Pakistan and the establishment of an IT park in Islamabad is a step towards doing so, South Korean Ambassador Dr Song Jong-Hwan said at a gathering at the Islamabad Chamber of Commerce and Industry (ICCI).

South Korea will establish one of the biggest and most advanced IT parks in Islamabad in an area of about one million square feet.

The Exim Bank of Korea has agreed to provide $50 million for the establishment of the park and 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 attract international companies to develop software and hardware solutions and will also help boost the country’s IT exports.

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

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