South Korean firm planning to set up factory in Pakistan

Wants to manufacture LEDs, solar cells and machine tools

ISLAMABAD: Line Tech Inc Overseas Business Division head Dr Won Ho Jung has said that his company is interested in making investment in Pakistan for manufacturing various products including LEDs, solar cells, machine tools, vacuum products and other goods.

He made the announcement during a visit to the Islamabad Chamber of Commerce and Industry (ICCI) where he exchanged views with the local business community.

In the first phase, he said, South Korean company Line Tech was looking for partners in Pakistan to introduce its products in the country and at a later stage it was planning to set up a factory for manufacturing different goods with transfer of technology from South Korea.  Won said his company was also interested in setting up water purification and water treatment plants in Pakistan as it found the country as a potential market for business and investment.



The company was importing leather from Brazil and would like to buy it from Pakistan, for which it was looking for credible leather exporters, he revealed. Speaking on the occasion, ICCI President Ahmed Hassan Moughal called Pakistan a huge market of over 200 million consumers due to which foreign investors were doing successful business in the country.

“Consumer products like LEDs, solar cells, vacuum products and others have great demand in our market and the South Korean company should explore the possibility of setting up a manufacturing plant in Pakistan,” he said.

Moughal pointed out that under the China-Pakistan Economic Corridor (CPEC), nine Special Economic Zones (SEZs) would be established in Pakistan where domestic and foreign investors would be given attractive incentives including tax holidays. “It is the right time for the South Korean company to enter Pakistan’s market and form joint ventures as well as make investment,” he stressed.

ICCI Vice President Iftikhar Anwar Sethi assured the South Korean company that the chamber would extend all possible cooperation in finding right partners.

Published in The Express Tribune, February 24^th, 2019.

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