Abdul Ghani

The Republic of Korea disbursed $2.34 million in October 2025 as part of its financial commitment to the Islamabad IT Park. This disbursement represents a critical step toward enhancing Pakistan's technological infrastructure and supporting the country’s digital transformation, reports Wealth Pakistan. The total commitment from South Korea for the project amounts to $15.20 million, aimed at establishing state-of-the-art technology parks in Pakistan.

These parks are envisioned as key drivers for innovation, research, and growth in the country’s technology sector. The funding will primarily focus on creating world-class facilities for technology startups, IT companies, and research institutions, fostering an environment conducive to scientific research, development, and entrepreneurship. During the July–October 2025 period, $6.55 million (PKR 1,855.82 million) was allocated for the project’s initial stages.

These funds were mainly used for preparatory work, including land acquisition, feasibility studies, and initial design necessary for the establishment of the technology parks. This financial support underscores South Korea’s ongoing commitment to strengthening Pakistan’s technological capabilities, as both nations work together to bridge the digital divide and build a robust digital economy. The Technology Parks Development Project aims to establish multiple technology parks across Pakistan, focusing on key cities that will serve as hubs for technological innovation.

The parks will provide infrastructure for high-tech research, development, and production, enabling Pakistani businesses and startups to leverage modern technologies and compete globally. The project also seeks to create a nurturing ecosystem that supports tech entrepreneurs and professionals. These technology parks will serve as essential spaces for startup incubation, offering vital services such as office spaces, R&D facilities, and networking opportunities.

They will play a crucial role in building Pakistan’s innovation capacity, helping the country develop its IT sector and technology-based services. The project is part of a broader collaboration between South Korea and Pakistan in the field of technology and digital infrastructure. The South Korean government has long been a partner in helping Pakistan develop its technological infrastructure, with prior collaborations focusing on IT capacity building, technology transfer, and innovation.

This latest disbursement further strengthens bilateral ties, signaling a long-term commitment to fostering technology-driven growth in Pakistan. This initiative also aligns with Pakistan’s larger strategy to enhance its global standing in the digital economy and technology sector. With increasing emphasis on innovation, digital transformation, and entrepreneurship, the establishment of these technology parks is expected to contribute significantly to the country’s long-term growth in the global IT industry.

It is noted that the project was scheduled for completion by October 31, 2025. During a Senate Standing Committee meeting in September, when members inquired about the deadline, the project director acknowledged that completion by October 31 was unlikely. The Korean company’s representative added that while much of the work would be finished by December 31, full commissioning of the Islamabad Technology Park would only be completed by February 2026.

Credit: INP-WealthPk