Egypt’s General Authority for Investment and Free Zones (GAFI) held the first meeting of the Egyptian-Korean committee for business and investment development as the two countries move to deepen economic cooperation and resolve obstacles facing Korean investors in the local market, as per a statement.

Egypt’s portfolio of ongoing development cooperation projects with South Korea exceeds $1.3 billion, the Ministry of Planning, Economic Development and International Cooperation revealed.

Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZONE), signed a contract with the South Korean company Samil Solution.

The trade volume between Egypt and South Korea increased to $1.6 billion in 2024, Finance Minister Ahmed Kouchouk announced during a conference on “Korea–Egypt Economic Partnership and Cooperation”.

Egypt and South Korea signed a memorandum of understanding (MoU) to develop environmentally friendly car maintenance technology in four centers within the Ministry of Industry, according to a statement.

Minister of Investment and Foreign Trade Hassan El-Khatib met with South Korean Ambassador to Cairo Kim Young-hyun and his delegation to explore ways to strengthen economic ties and expand Korean investments in Egypt.

Egypt and South Korea have probed bilateral cooperation in the field of digital government.

Prime Minister Mostafa Madbouly has met with representatives of 15 South Korean firms to discuss the possibility of expanding the scope of South Korean investments in Egypt across various sectors beyond the current investments.

The Egyptian cabinet has approved the signing of a letter of guarantee by the Ministry of Finance regarding the concessional financing framework agreement previously signed between the Egyptian and South Korean governments on June 12th.

The Egyptian Ministry of Transport signed a memorandum of understanding (MoU) with the South Korean STX Corporation to develop the Jarjoub economic zone, as per a statement by the Egyptian Ministry on November 28th.

The value of Egypt’s exports to East Asian countries grew by 15.9% year on year (YoY) to $7.7 billion in 2022, versus $6.6 billion.

The value of trade between Egypt and South Korea rose 62.9% year on year (YoY) in 2022 to $3.9 billion from $2.4 billion.

Egypt is looking forward to further cooperation with South Korea to operate a direct flight line between both countries.

Egyptian Minister of Tourism and Antiquities Ahmed Issa met with South Korean Ambassador to Cairo Kim Yong-Hyun to discuss ways to enhance joint cooperation at the tourism and archaeological level.

The Suez Canal Authority’s (SCA) Chairman Osama Rabie has met with the South Korean Ambassador to Egypt Kim Yong-Hyun and an accompanied delegation to probe cooperation in the green transition field.

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla met with South Korean Ambassador to Cairo Kim Young Hyun to discuss ways of strengthening bilateral cooperation in the fields of oil, natural gas, and green energy.

South Korea is looking forward to expanding investments in the Suez Canal Economic Zone (SCZone) over the coming period.

Egyptian Ministry of International Cooperation has signed a $460 million development financing agreement with the Embassy of South Korea for supplying 40 train units (320 railcars) to the Cairo Metro’s Line 2 and Line 3.