Korean Delegation to Meet with Egyptian Gov't, Chamber of Commerce for Economic Cooperation

A Korean delegation from the Korean Egyptian Development Association (KEDA), headed by Wong Sik Kang, will visit Egypt from May 26 to 30 with the aim of discussing investment opportunities with the Egyptian government in several fields.

The accompanying Korean delegation includes a group of Korean businessmen and CEOs of 19 companies operating in 11 fields, namely the manufacture of vehicles, electric bicycles, airlines, railway cars, environmental protection, optical devices for small arms and machine guns, firefighting, cosmetics, elevators, prepared meals and fish.

This is with the participation of the Korea-Pakistan Association, the Korean Association for the Promotion of Small and Medium Industries, and the Korean Garment Industry Cooperative Association.

The Korean delegation is scheduled to meet with officials and members of the Egyptian Chamber of Commerce and Industry during the visit on May 28 to discuss aspects of cooperation with members of the chamber to pump its investments into Egypt.

South Korea is a key, important and strategic partner for Egypt in many industries, in addition to the fact that the industrial sector in general is a major priority for the Egyptian state during the current stage.

The association is represented by Choi Jong-moon, former deputy foreign minister and advisor to the association, Kim Iljoo, vice president of the association, Yu Yesu Nhwan, secretary-general of the association and advisor to Samsung Life Insurance Company, Lee Eun-sil, director of the association’s business, and Park Hye-jun, advisor to the association.

Sik Kang said that the visit comes within the framework of cooperation between Egypt and Korea in the manufacturing sector and joint economic cooperation, as Korea has a global competitive ability in manufacturing, and Egypt is implementing its industrial strategy with the ambition to become a manufacturing Hub in the region.

The Korean ambassador to Egypt Kim Young-hyun announced that Korea will host the inaugural Korea-Africa Summit during June 4-5 in Korea, highlighting Egypt's role as a major participant as a leading country in Africa.

The summit will constitute a milestone in the path of Korea and Africa to shape a future of sustainable shared prosperity as true partners and represents an opportunity to expand cooperation, especially in the economic sector.

It is noteworthy that on the economic level, there are currently more than 30 major Korean companies in Egypt, and many of them are participating in important projects, such as the Dabaa nuclear station and the production of the Cairo metro train.