South Korean Amb.: Egypt on its way to becoming a regional center for electronics industry

CAIRO - 29 May 2024: The Korean Promotion, Investment and Trade Agency in Egypt, KOTRA, organized a seminar and business meetings with a group of seven companies in the field of electronics industry operating between Egypt and South Korea.

 

The symposium was attended by the Ambassador of the Republic of South Korea to Egypt, Kim Young-hyun, who highlighted the strong partnership that already exists between Korea and Egypt in the electronics industry, noting that major Korean electronics companies produce electronic products in Egypt and export them to more than 50 countries around the world. In addition to that, he pointed to the successful operation of two joint projects as examples of this strong cooperation.

 

Ambassador Kim stated that South Korea is a world leader in the electronics industry, as it leads the global market in semiconductors, smartphones, displays and batteries, in addition to home appliances such as televisions and refrigerators. He stressed that Egypt, through implementing the EME (Egypt Manufactures Electronics) initiative, is on its way to becoming a regional and global center for the electronics industry in the Middle East, Africa and Europe. Given these factors, he stated that the electronics industry will be an essential element in economic cooperation between Korea and Egypt.

 

A statement from the South Korean Embassy said Wednesday that the main goal of the symposium and meetings is to discuss the possibility of enhancing cooperation in the “electronic devices sector” with the relevant Egyptian ministries and bodies and the private sector, especially the Ministry of Communications and Information Technology (MCIT), the General Authority for Investment and Free Zones (GAFI) and the private sector.

 

The symposium presented the investment environment in Egypt, investment incentives, trends in the electronics industry, and most importantly the presidential initiative “Egypt Manufactures Electronics” (EME), which was launched to position the electronics industry as one of the basic pillars of the growth of the Egyptian economy.

 

On Thursday, the Korean trade delegation will visit an Egyptian factory. The visit aims to encourage South Korean companies to cooperate and provide the Egyptian market with the feed industry supplies needed to manufacture electronic devices.