South Korea’s Ambassador to Egypt, Kim Yonghyon, reaffirmed his country’s commitment to expanding investment and technology partnerships with Cairo, as both nations marked 30 years since establishing diplomatic relations.
Speaking at the Egypt–South Korea Cooperation Conference in Cairo, Kim said bilateral trade has now surpassed $1.6 billion.
“While 30 years may seem relatively short, our countries have achieved much together. South Korea has become one of Egypt’s trusted partners and friends, and this partnership now extends across diplomacy, defense, trade and investment,” he said.
The ambassador underlined South Korea’s support for Egypt’s economic reforms, stressing the role of private-sector engagement.
He cited landmark projects by Korean companies, including investments worth over $700 million in Egypt’s electronics manufacturing sector and Hyundai’s contribution to assembling buses and supplying parts for public transport.
“Beyond trade, South Korean companies have provided the technology, know-how, and infrastructure that helped build Egypt’s vision for sustainable growth,” Kim said, pointing to ventures in automotive, plastics, machinery, and green technology.
He added that South Korean firms are also stepping up investment in renewable energy and green components.
“The story of our partnership is one of shared vision, mutual benefit, and tangible achievements,” Kim said. “With Egypt’s strategic location, dynamic workforce, and growing market, I am confident that the coming years will witness even more ambitious and successful collaborations.”
Egypt’s Finance Minister Ahmed Kouchouk described cooperation with South Korea as “one of the most distinguished and unique experiences.”
He praised the role of Egyptian engineers in building large-scale facilities and stressed that future growth will rely on advanced technologies, education, and foreign investment.
Kouchouk noted that around 85 percent of production from major facilities, established on investments and plants covering 50,000 square feet, now serves both the local market and cross-border trade.
“We are moving forward with new companies and projects as Egypt seeks to become the first African country to achieve these milestones, a vision built on mutual benefit and expanding what we can accomplish together,” Kouchouk said.
“Much has already been achieved, but the road ahead requires continued efforts and preparation for another hundred years of productivity,” he added.
Looking ahead, he expressed optimism that the coming year will bring “greater transformations and more successful partnerships than before,” reaffirming Egypt’s shared commitment and global standing.
Abdel-Aziz El-Sherif, head of the Egyptian Commercial Service, said bilateral trade reached nearly $2 billion in 2023, with more than 200 Korean companies operating in Egypt and total investments of around $800 million.
“Over the past 30 years, our relationship has steadily evolved into a comprehensive partnership, grounded in mutual respect and shared aspirations for sustainable development and prosperity,” he said.
El-Sherif pointed to landmark projects by Samsung and LG, as well as Korean contributions to railway modernization and energy security.
While acknowledging challenges such as export logistics, he urged expansion into agriculture, processed foods, and high-value manufacturing.
“We must seize this momentum to deepen cooperation and unlock new opportunities for our peoples, drawing a path toward a brighter and more prosperous future for both nations,” he said.
Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), echoed the call for stronger collaboration.
“Since the establishment of diplomatic ties in 1995, our partnership has grown into a comprehensive cooperation covering trade, investment, and industrial collaboration,” he said, inviting Korean investors to take part in mega infrastructure projects and new sectors such as green hydrogen, solar and wind energy, and digital transformation.
He acknowledged ongoing challenges, including export logistics and the need to diversify into non-traditional sectors.
He highlighted opportunities in agriculture, processed foods, chemicals, and high-value manufacturing, noting that Egyptian authorities are working with Korean partners to ease market access for agricultural exports, including wheat.
“Korea’s partnership with Egypt is a proven success story built on 30 years of shared achievement and economic growth,” Heiba said. “We must seize this momentum to deepen cooperation and unlock new opportunities.”
The conference was attended by senior officials and business leaders from both countries, underscoring their shared commitment to strengthening economic ties.
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