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Fewer investors to set foot in Pakistan

With the release of the Hafiz Saeed, there has been a political unrest between Pakistan and India.

South Korean vice minister for foreign affairs Cho Hyun said here on Monday that the South’s government has given “enough warning” to companies that have shown interest in investing in Pakistan Occupied Kashmir (PoK) to refrain from doing so.

“We have sent out a clear message that these companies must resist investing in the PoK. I was in Delhi at the time and I had told our government to be careful,” said Mr. Cho.

“South Korea fully understands India’s sensitivity. We will try to refrain these companies from working in PoK,” Cho said. He was earlier posted in New Delhi as South Korea’s ambassador.

Mr. Cho admitted that a few South Korean companies had shown interest in doing business in PoK. South Korea’s Daelim had shown interest in the Chakothi Hattian hydropower project in Muzaffarabad. It is now reconsidering its decision. Organizations like Asian Development Bank and Korea Exim Bank have in the past refused to finance projects in territory claimed by India.

The issue of South Korean companies’ interests came up after Pakistan tried to get investment in energy and infrastructure projects in PoK and Gilgit-Baltistan.

These two regions, which were parts of undivided J&K, are claimed by India by a parliamentary resolution. Earlier, India had also raised its concerns with China over huge Chinese investments in PoK.


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