Economic Partnership Between Egypt and South Korea Reaches New Heights

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The South Korean investments in Egypt have soared to around USD 845 million  (EGP 41 billion), as of June 2023, reflecting the robust economic ties between the two nations. Ahead of the Korea-Africa Summit 2024 on 4 and 5 June in Korea, the South Korean Ambassador, Kim Yong-Hyun, met with H.E. Dr. Rania A. Al-Mashat, Egypt’s Minister of International Cooperation, to discuss ways to enhance cooperation between South Korea and Egypt.  The partnership between Egypt and South Korea dates back to 1974, when the Korea Trade-Investment Promotion Agency (KOTRA), affiliated with the Commercial Office of the South Korean Embassy in Egypt, set up its operations in Cairo. The Director General of the Korea Trade and Investment Promotion Agency in Cairo (KOTRA), Sukho Lee, stated to Ahram Online that the high volume of South Korean investment in Egypt in 2023 was “Pumped by mostly large companies in the manufacturing sector, including Samsung Electronics, LG Electronics, and Hyundai Rotem.”  South Korea’s investment in Egypt amounted to USD 162.6 million (EGP 7.9 billion) during the fiscal year 2020/2021, and USD 311.6 million (EGP 15 billion) during the fiscal year 2021/2022, representing an increase…

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The post Economic Partnership Between Egypt and South Korea Reaches New Heights first appeared on Egyptian Streets.

Source: egyptianstreets