The Republic of Korea and the Arab Republic of Egypt continue to strengthen their strategic partnership, with 2024 marking significant achievements in trade, investment, development cooperation, and cultural exchange.
Trade Relations
Bilateral trade volume between Korea and Egypt reached 1.57 billion USD in 2024, compared to 1.97 billion USD in 2023.
Key Korean exports included passenger cars (275 mn USD), synthetic resins (165 mn USD), semiconductors (78 mn USD), automobile parts (66 mn USD), and computers (56 mn USD).
Egypt’s primary exports to Korea were naphtha (85 mn USD), liquefied natural gas (53 mn USD), and industrial residues (27 mn USD).
Investments and Industry
Korean investments in Egypt exceeded 1 billion USD by 2024, with Egyptian investments in Korea totaling 33 million USD.
• Samsung Electronics’ factory in Beni Suef (700 mn USD investment, 5,000 Egyptian employees) produces mobile phones and LCDs.
• LG Electronics’ factory in 10th of Ramadan City (350 mn USD investment, 1,000 employees) manufactures home appliances and LCDs.
A total of 171 Korean companies are registered with GAFI, including 34 major players in technology, manufacturing, and infrastructure.
Development Cooperation
Since 1987, Korea has provided over 350 million USD in Official Development Assistance (ODA) to Egypt, with KOICA contributing 100 million USD between 1991–2023. Current projects focus on:
• Education: Establishment of Beni Suef Technological University and green mobility initiatives in vocational training.
• Transport: Modernization of rail signaling systems, supply of 32 Cairo metro trains, and Alexandria Port masterplan development.
• Digital Transformation: E-procurement, e-payment, and tax system upgrades, alongside a new 11 million USD digital trade platform (2025–2029).
• Gender and Governance: Programs supporting women’s economic empowerment, anti-corruption capacity building, and cybersecurity training for national security agencies.
Tourism and Cultural Exchange
Tourism exchange surged in 2024:
• Korean visitors to Egypt: 42,177 (up 26.25%)
• Egyptian visitors to Korea: 6,419 (up 13.75%)
Korean culture continues to resonate strongly with Egyptians:
• Enrollment in the King Sejong Institute reached 2,595 in 2023 and 767 in 2024.
• The number of K-culture fan clubs expanded to 88 nationwide, with over 900,000 active members.
Korea’s Global Standing
Globally, Korea remains an economic powerhouse:
• GDP: 1.87 trillion USD (12th largest worldwide).
• Per capita income: 36,132 USD (33rd globally).
• Trade ranking: 7th in the world (6th in exports, 11th in imports).
• World leader in shipbuilding, semiconductors, home appliances, and smartphones.
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