Egypt, South Korea sign MoU to boost cooperation in social insurance systems
Egypt and South Korea signed on Tuesday a memorandum of understanding to strengthen cooperation in the field of social insurance, marking a new step towards modernising Egypt’s social protection system.
The agreement was signed between Egypt’s National Organisation for Social Insurance (NOSI) and South Korea’s National Pension Service (NPS) in Cairo, as part of efforts to exchange expertise and enhance the efficiency of Egypt’s social insurance framework.
NOSI Chairman Gamal Awad said the partnership reflects the authority’s strategy to benefit from global best practices, highlighting South Korea’s experience as one of the leading international models in social insurance and pension management.
The MoU includes cooperation on joint training programmes, research projects, technical consultations, and exchange of legislative and policy expertise. It also provides for mutual study visits aimed at improving institutional performance and service quality.
The Korean delegation praised Egypt’s progress in modernising its social insurance system, saying the partnership would help enhance citizen services, foster knowledge exchange, and support Korean investment in Egypt through improved social and economic stability.
The agreement comes as Egypt accelerates reforms to upgrade its social protection infrastructure, improve service delivery, ensure financial sustainability, and strengthen social justice.
Attribution: Amwal Al Ghad English