30 South Korean officials, businessmen to attend Economic Summit

A delegation of 30 South Korean officials and businessmen will attend the Economic Summit in Sharm El-Sheikh, said Minister of Industry and Foreign Trade Mounir Fakhry Abdel Nour.

The South Korean delegation will be headed by the Korean deputy Minister of Trade and Industry.

Abdel Nour said the delegation’s participation confirms South Korea’s willingness to expand economic relations with Egypt and to benefit from the existing investment opportunities.

Bilateral negotiations Monday, between the minister and the South Korean Ambassador in Egypt, have tackled ways to promote economic cooperation and to increase bilateral trade and investments.

“The Korean investments in Egypt represent success stories in several domains especially in the electronic industry, where Samsung and LG companies managed to manufacture high quality products not just in the local market but in exporting products to countries in Africa and Arab region,” Abdel Nour added.

The meeting discussed a proposal to sign an agreement between Egypt, the UAE and South Korea to boost trade and industry sectors cooperation.

For his part, the South Korean Ambassador to Egypt, Chung Kwang-kyun, noted that his country is keen to participate in the Economic Summit with a large delegation. Kim added that Korean companies are aiming to invest in Egypt, as well as to expand the existing projects.

Egypt had received several aid packages from Korea, since it officially became a donor country. This has been in the areas of construction and human development, according to the government-run State Information Service (SIS).

Source: Daily News Egypt