Egypt's largest news organisation, Al-Ahram, held a conference on Monday discussing the possibilities for an economic partnership with South Korea.

Ahmed El-Naggar, the CEO of Al-Ahram institution and a trained economist, stressed the importance of industrialisation for Egypt's future development ,citing the growth achieved by South Korea since 1965. 

The conference was attended by Egypt's Foreign Trade and Industry Minister Mounir Fakhry Abdel-Nour, as well as the Association for Egyptian and South Korean Partnership.

Abdel-Nour said that Egypt stands to benefit from cooperating with a country that has developed a highly advanced automobile industry such as South Korea.

He added that Egypt aims to increase its car assembly capacities from 300,000 per year to 500,000 by 2020.