President Abdel Fatah al-Sisi with South Korea's National assembly speaker Chung Ui-hwa during his visit to Seoul in March 2016 - Egyptian presidency
CAIRO – 25 November 2017: A delegation of 11 Korean companies will visit Egypt next month to study the execution of investment projects, head of the Egyptian-Korean Business Council Raouf Ghabbour said Saturday.
The companies operate in the fields of energy, electricity, engineering industries, construction, shipping, home appliances, trade, railways and machinery.
Ghabbour said that the delegation’s visit comes in light of the 10th joint meeting of the Egyptian-Korean Business Council, adding that an Egyptian-Korean business forum will be held on the sidelines of the visit.
The form, he said, will involve two sessions, the first on promoting investments between Egypt and Korea and the banks’ role in enhancing such investments, and the second on the investment opportunities available in the ScZone and new administrative capital.
Ghabbour added that Trade Minister Tarek kabil will participate in the opening session of the forum.
Egyptian-Korean relations have been improving recently, after President Abdel-Fatah al-Sisi’s visit to Seoul last year, in which he signed nine agreements and memos with South Korean President Park Chung-hee in various fields.
The deals included railway security system upgrades, the establishment of a joint technological university, developments at the Alexandria seaport, in addition to memoranda of understanding (MoUs) between the ministries of education, higher education, justice and trade from both countries.
Another MoU was signed between Egypt and the Korean export and import bank to facilitate $3 billion loans to Egypt.Koran investments in Egypt stand at $500 million, focused in the fields of electronics and textiles.