News

South Korea to Boost Investment in Egypt With $3 Billion Deals

South Korea to Boost Investment in Egypt With $3 Billion Deals

Egypt's international cooperation minister Sahar Nasr (front L) and South Korean first vice foreign minister Lim Sung-Nam (front R) sign an agreement as Egypt's President Abdel Fattah al-Sisi (back L) and South Korean President Park Geun-Hye (back R) look at at the presidential house in Seoul on March 3, 2016. Egypt's President Abdel Fattah al-Sisi is in South Korea on a three-day official visit. Photo: Pool/Getty Images
Egypt’s international cooperation minister Sahar Nasr (front L) and South Korean first vice foreign minister Lim Sung-Nam (front R) sign an agreement as Egypt’s President Abdel Fattah Al-Sisi (back L) and South Korean President Park Geun-Hye (back R) look at at the presidential house in Seoul on March 3, 2016. Photo: Pool/Getty Images

Minister of International Cooperation Sahar Nasr received a delegation from South Korea on Thursday to discuss the implementation of a number of memoranda of understanding worth USD 3 billion signed during President Abdel Fattah Al-Sisi’s visit to Korea in March.

The financial package includes investments in renewable energy, sewage and water desalination and treatment projects, according to a statement released by the Egyptian Ministry of International Cooperation.

During the meetings, Nasr hailed bilateral economic cooperation between Egypt and South Korea, stating that the purpose of the talks was to follow up on President Sisi’s discussions with the Korean business community during his visit to the country earlier this year.

Meanwhile, the Egyptian-Korean Business Forum also kicked off on Thursday, aiming to deepen bilateral economic ties between the countries and exploring the two countries’ respective markets.

President Abdel Fattah Al-Sisi visited South Korea in March, where he signed a range of multi-billion dollar agreements with his South Korean counterpart.

Dozens Injured as Massive Fire Erupts in Cairo's El-Ataba, Engulfs Hotel
ISIS Claims Responsibility for Deadly Drive-By Shooting of Police in Cairo's Helwan

Subscribe to our newsletter


News

More in News

A pharmacist searches for medicine at a pharmacy in Cairo, Egypt, November 17, 2016. REUTERS/Mohamed Abd El Ghany

Egyptian Military Forms Pharmaceutical Company

Egyptian StreetsJanuary 23, 2017
Egypt's military prepares ahead of new operations against militants in Sinai

Five Soldiers Killed in Ambush in Egypt’s North Sinai

Egyptian StreetsJanuary 23, 2017
61320490

Egypt Knocked Out of Handball World Championships

Egyptian StreetsJanuary 23, 2017
egypt

Egypt Defeats Uganda in African Cup of Nations

Egyptian StreetsJanuary 22, 2017
Egypt's Karim Abdel Gawad and France's Camille Serme

Egypt’s Karim Abdel Gawad Wins Tournament of Champions in New York

Egyptian StreetsJanuary 21, 2017
22.jpg.crop_display

Cairo Court Lists Egyptian Football Legend Aboutreika on Terror List

Egyptian StreetsJanuary 19, 2017
32385636795_e6f5d7101d_z

Egypt Secure Spot in Knockout Stage at 2017 Handball World Championship

Egyptian StreetsJanuary 19, 2017
1073779_big-lnd

Egypt’s Essam El-Hadary Makes African Cup History

Egyptian StreetsJanuary 18, 2017
Egyptian Streets is an independent, young, and grass roots news media organization aimed at providing readers with an alternate depiction of events that occur on Egyptian and Middle Eastern streets, and to establish an engaging social platform for readers to discover and discuss the various issues that impact the region.

© 2016 ES Media UG. All Rights Reserved.