south korea
South Korean Ambassador to Cairo Kim Yonghyon on Saturday praised steps taken by the Egyptian government to attract foreign direct investment.
Ambassador Kim also mentioned that during the "Korea-Africa Summit" held last June, Korea raised the Economic Development Cooperation Fund (EDCF) ceiling for Egypt from USD 1 billion to USD 3 billion, further strengthening their development cooperation.
The Korean Promotion, Investment and Trade Agency in Egypt, KOTRA, organized a seminar and business meetings with a group of 7 companies in the field of electronics industry operating between Egypt and South Korea.
The Director of the Korean Cultural Center revealed plans to establish a center for teaching the Korean language in Egypt, citing the increasing demand from Egyptians eager to learn.
That was in a meeting with Prime Minister Mostafa Madbouli Wednesday.
The sectors focused on the meeting were electronics, electrical appliances, textiles, oil and gas, nuclear energy, iron and steel, petrochemicals, manufacturing subway cars, and importing Egyptian agricultural products.
Both officials talked digital transformation, digital capacity building, artificial intelligence, and electronics design and manufacturing.
Ambassador Kim acknowledged that Korean companies operating in Egypt are benefiting from recent positive developments in Egypt’s macro-economic situation. He expressed gratitude to Minister Al-Mashat for her leadership and role in concluding a series of agreements with international partners, including the IMF, EU, and World Bank.
Minister Shokry presented the opportunities and incentives that Korean investors could leverage in Egypt.
The project will involve investments worth $2 billion, according to a statement from SK Ecoplant. The companies aim to have the project fully operational by 2029
The National Team Committee does not make administrative decisions, leaving it up to the KFA's Executive Board whether to act on its recommendation to fire Klinsmann, whose contract runs through the 2026 World Cup.
South Korea's hunt for a first Asian Cup title in 64 years suffered a major blow when coach Juergen Klinsmann confirmed on Friday that first-choice goalkeeper Kim Seung-gyu had been ruled out of the rest of the tournament with a knee injury.
Ambassador Kim also praised that Sohag has made great achievements in implementing Haya Karima initiative and said Korea would continue to cooperate to help Egypt make further progress by, among others, introducing Egypt to Korea’s Saemaul movement that had contributed in developing Korea’s rural areas in the 60’s and 70’s.
Gargoub Port Company will have the responsibility of equipping, managing, operating, and maintaining the Gargoub seaport, including its docks and infrastructure
The trade delegation is visiting Egypt from 31 October to 2 November. They are specialized in the field of water industry and headed by Korea Water Partnership (KWP).
Both sides exchanged views on furthering developing technical education and Korean language education in particular, while expressing their appreciation of ongoing cooperation.
The Egyptian exports value reached $2 billion during 2022, compared to $618.6 million during 2021, recording an increase of 219.5 percent.
The meeting was attended by Speaker of the Egyptian House of Representatives Abdel Fatah al-Gebaly, a number of Korean parliamentarian, and South Korean ambassador.
The conference was organized by the South Korean Ministry of Economy and Finance and the Korea Export-Import Bank, in cooperation with the African Development Bank (AfDB)
Minister of Social Solidarity Nevine al-Qabaj received Monday the South Korean ambassador to Egypt.
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