Pakistan–South Korea relations

Pakistan-South Korea relations

Pakistan
South Korea

Pakistan–South Korea relations refers to bilateral diplomatic relationship between Pakistan and South Korea. Since the 1980s, the relations between two Asian states have been improved and periodically enhanced. Pakistan has an embassy in Seoul, South Korea,[1] and South Korea has an embassy in Islamabad, Pakistan.[2] South Korea is also member of Friends of Democratic Pakistan.

Trade links

Bilateral trade between the two countries is around US$1.1 billion.[3] Both sides have expressed interest to further promote the trade and investment relationship between the two countries. KOTRA (Korea Trade Centre) is playing vital role in enhancing the trade relation between Korea and Pakistan[4]

People traffic

In 2005 there were up to 7,000 Pakistanis living in South Korea.[5]

Bilateral visits

In November 2003, Pakistani President Pervez Musharraf paid a three-day official visit to Seoul, South Korea.[6] In spite of Pakistan's friendly relationship with North Korea, Pakistan maintains a strong base in South Korea, with more trade agreements with South Korea and friendly treaty signed by both countries. Recently in 2013 South Korean PM visited Pakistan during his visit many resolutions were signed of cooperation in defense, production and economic cooperation and science and technology with a grant of $10 million to SUPARCO.

Korean Companies In Pakistan

Federal Minister for Commerce Engineer Khurram Dastgir visited South Korea in July-2015 and discussed bilateral trade and possibility of FTA.[7][8][9]

South Korea has agreed to provide a loan of 78 million dollars for the construction of tunnel in Malakand Pass. Feasibility report of the tunnel has been jointly prepared by National Highway Authority and South Korean consultants.[10]

30 years of Pak-Korea relations[11]

Korean Companies Working in Pakistan

National Transmission & Despatch Company Limited (NTDCL) and Korea Electric Power Company (KEPCO) have signed a consultancy contract for designing, engineering and construction supervision of 500 Kv Dasu-Islamabad transmission line in Feb-2015.[12]

Sambu Construction Co. Ltd, KEPCO initiated a BOI Mahl Hydro Power Project (500 mW) at Mahl river, District Bagh, AJK in 2005. It was run of the river power generation.[15]

FOUNDATION POWER COMPANY DAHARKI LIMITED (FPCDL) entered into an agreement with KEPCO KPS Plant Services and Engineering Company Limited of South Korea for Operation and Maintenance,[16] Kicked off the Daharki Cogen Power Plant O&M in Feb. 2009.[17]

In 2008, a delegation of the consortium of KEPCO and the DOOSAN of Republic of Korea had come to Islamabad with a very attractive offer to participate in power generation projects, but government response was lukewarm. After three years, Doosan and Kepco, in consortium with other Korean investors, have renewed their offer in a meeting with Prime Minister Yousuf Raza Gilani on 21 January 2011.[18]

Korean M/s Sambu Construction Co. Ltd, Korea Midland Power Company Limited (KOMIPO) and Korea Electric Power Corporation (KEPCO) showed interested to construct Taunsa Barrage Hydropower Project (120MW) on BOT basis with 100 percent financing of US$300 million in November-2008.[14]

In Sept-2002, KEPCO showed interest in Rehabilitation, Operation, Maintenance and Management (ROMM)of 150 MW Fluidized Bed Combustion Coal Fired Power Plant Lakhra near Khanote in District Jamshoro, Sindh. No interest from Pakistan government was noticed on it.[19]

During the Sindh chief minister`s visit to South Korea in 2011 an MoU to generate 2000MW of wind energy was signed with Korea Southern Power Company.

Mira Power Limited is a special purpose company, setup to design, construct, own, operate and maintain 100MW Gulpur hydro power plant under Government of Pakistan’s Policy for Power Generation Projects 2002 as adopted in Azad Jammu & Kashmir . Mira Power Limited is a subsidiary of Korea South East Power Co. Ltd (KOSEP), which is fully owned subsidiary of Korea Electric Power Corporation (KEPCO). Project shareholders are KOSEP(76%), DAELIM(18%), LOTTE (6%).

Gulpur Hydropower Project: On 15-Oct 2015, Mira Power started construction of 102MW Gulpur Hydropower project at Kotli, Azad and Jammu Kashmir.

Kotli Hydropower Project,Kotli District, Poonch River, AJK. In May, 2015, Asian Development Bank (ADB) said it will provide 65 Million USD loan to Mira Power Limited, a South Korean Company, for build and operation.[20] Projected will be completed in March 2019.

Star Hydropower Limited (SHPL) and Sambu Construction Co. Korea initiated a Patring Hydropower Project (150MW) in 2005 at Patrind, AJK. The scope of project was diversion of Kunhar river water (KPK) to fall from height through a tunnel for power generation at AJK side.Its estimated cost was 360 Million USD with 25% equity and financing from IFC, Korean Exim Bank and IDB.[15]

K-water (Public Sector Entity) and Sambu Construction Co., South Korea initiated a project in 2008 to construct a water supply line 200M gallons/day from Tarbella to Islamabad & Rawalpindi with estimated cost of 800 million USD.[15]

Korean Companies Looking for Opportunities

Overall Pakistan has supported a reunification of Korea.

See also

References

  1. ↑ Pakistan embassy in Seol, South Korea
  2. ↑ South Korean embassy in Pakistan
  3. ↑ The Korea Herald. "Friendship with Korea marks Pakistan national day". Retrieved 29 April 2016.
  4. ↑ "DailyTimes - Your Right To Know". Retrieved 29 April 2016.
  5. ↑ Yearbook 2004-05, Government of Pakistan, Ministry of Labour, Manpower & Overseas Pakistanis, (Overseas Pakistanis Division), Islamabad
  6. ↑ "DailyTimes - Your Right To Know". Retrieved 29 April 2016.
  7. ↑ "Dastgir departs for South Korea to boost bilateral trade". Retrieved 29 April 2016.
  8. ↑ "Pakistan, S Korea likely to work on FTA". Retrieved 29 April 2016.
  9. ↑ Business Recorder. "BoI organises business, trade investment forum in South Korea". Business Recorder. Retrieved 29 April 2016.
  10. ↑ "S Korea to provide $ 78 million loan for Malakand Tunnel". Daily Pakistan Global. Retrieved 29 April 2016.
  11. ↑ "30 years of Pak-Korea relations". Retrieved 29 April 2016.
  12. 1 2 "Korean firm gets consultancy contract of 500kv Dasu transmission line". The Nation. 14 February 2015. Retrieved 29 April 2016.
  13. ↑ Mati ur Rehman. "KEPCO, NTDC sign deal to build 500KV Dasu-Islamabad transmission line". Customs Today Newspaper. Retrieved 29 April 2016.
  14. 1 2 http://www.app.com.pk/en_/index.php?option=com_content&task=view&id=60416
  15. 1 2 3 http://www.tevta-slmis.gop.pk/pdf/inv/BOI%20projects.pdf
  16. ↑ "FPCDL". Retrieved 29 April 2016.
  17. ↑ https://www.kps.co.kr/eng/html/about/about_03_01_01.asp
  18. ↑ Business Recorder. "Developing Thar coalfields for power generation". Business Recorder. Retrieved 29 April 2016.
  19. ↑ http://www.findpk.com/yp/Hot-Products-Services-Details.asp?ComID=26782
  20. ↑ "Addressing shortages: ADB promises $65m for hydroelectric power project". The Express Tribune. 19 May 2015. Retrieved 29 April 2016.
  21. 1 2 3 4 5 6 "South Korea interested in Pakistan’s port infrastructure". The News International. 31 July 2015. Retrieved 3 August 2015.
  22. ↑ http://www.nti.org/media/pdfs/16_13.pdf?_=1316821617
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