Pakistani President Asif Ali Zardari has been active in meeting with Korean heads of banking, energy and construction businesses to secure more investment to Pakistan during his stay here.

The Pakistani president had meetings on Wednesday with leaders of GS Engineering & Construction Corp., Doosan Group, Daelim Industrial Co., KCC Corp. and Sambu Construction Industrial Co. to encourage them to participate in major projects in Pakistan, industry sources said.

In a meeting with Doosan Group chairman Park Yong-maan, President Zardari discussed Pakistan’s power generation and construction equipment markets, as well as ways to expand Doosan’s operation in Pakistan, the Korean conglomerate said. 

Doosan Group’s affiliate firms, Doosan Heavy Industries & Construction and Doosan Infracore Co., has been involved in overseas operations in Pakistan for many years, constructing thermal power plants and exporting engineering and construction equipments.

Also on Wednesday, Pakistani bank and energy heads who accompanied Zardari to Seoul signed memorandum of understanding with their Korean counterparts including K-water and the Export-Import Bank of Korea, or Eximbank.

Eximbank in Korea signed an agreement with the Pakistani government to offer $78 million in long-term, low-interest loans through the Economic Development Cooperation Fund. The EDCF will be used to support a tunnel construction project in Pakistan.

Earlier on Tuesday, in addition to the summit meeting with President Lee Myung-bak, the Pakistani president also separately met with some ministers of the Korean government and leaders of some conglomerates.

The Pakistani government signed mutual business cooperation pacts with the Bank of Korea, the Ministry of Land, Transport and Maritime Affairs, the Korea Railroad Co. and Lotte Group.

By Chung Joo-won (joowonc@heraldcorp.com)