Egypt's President Abdel Fattah El-Sisi accepted an invitation on Tuesday by his South Korean counterpart Park Geun-hye to visit Seoul, Egypt's minister of environment said.
During a speech delivered on behalf of the Egyptian president during South Korea's embassy celebration on the occasion of the 20th anniversary of establishing diplomatic relations between the two countries, Khalid Fahmi said "El Sisi is keen on developing bilateral relations with the Asian state".
El-Sisi voiced interest in the continuation and deepening of the existing cooperative relations of mutual trust between the two countries since the establishment of relations between the countries on 13 April 1995.
South Korean Ambassador to Egypt, Chung Kwang-Kyun, hailed the "significant potential" to expand ties between Korea and Egypt.
"Egypt is an attractive destination for foreign investment as proved at the Sharm El-Shiekh Economic Development Conference last month, because it has huge markets, a strong labour force and a strategic location, linking the GCC countries with North Africa and Europe"
Chung Kwang-Kyun asserted that Egypt is a leading and key player in the Middle East and beyond. The Korean envoy reiterated that his country regards Egypt as an important partner and stands ready to expand cooperation in an all-inclusive way.
The relationship between Korea and Egypt has made significant progress. In the political arena, President Park Geun-hye of Korea and El-Sisi held a summit in New York City in September 2014 – the first summit between the two countries in eight years. The high-level political exchange continued when the Prime Minister of Korea made an official visit to Egypt in November 2014.
Economically, Korean companies have been active investors in Egypt. Samsung Electronics decided in 2013 to make investments in the Upper Egypt governorate of Beni Suef.
Samsung's flat-screen TV factory in Beni Suef is now exporting approximately $500 million worth of merchandise a year, and employing about 2700 Egyptian workers.