Egypt, South Korea clinch $2.9mn deal to improve patent office – minister

Egypt’s Minister of International Cooperation said exchanged letters have been signed with South Korea to extend a grant worth $2.9 million to implement the intellectual property mechanisation project carried out at the Egyptian Patent Office (EGPO).

In a statement on Wednesday, Rania El-Mashat added that the grant was approved by parliament and comes in line with the ministry’s vision regarding international partnerships based on the people, projects, and purpose, Ahram Online reported.

Head of parliament’s education and scientific research committee Sami Hashem said parliament has approved the Korean grant which is expected to improve the management efficiency of the patent office.

In April, South Korea’s Ambassador to Egypt Yeocheol Yoon announced that the country is to double its financial support for Egypt in combating the COVID-19 crisis, adding that it decided to allocate $200,000 for Egypt in emergency response in this regard.

South Korea also pledged to provide important medical equipment including CT scanners and oxygen tanks.