News

Egyptian-South Korean Technology University Among Multi-Billion Dollar Agreements Reached

Egyptian-South Korean Technology University Among Multi-Billion Dollar Agreements Reached

12804629_1355187974507538_1100715616705571940_n

During his visit to Seoul, Egyptian President Abdel Fattah Al-Sisi joined his South Korean counterpart Park Geun-hye in signing nine agreements on joint cooperation in several fields that would see upgrades and developments in various sectors across Egypt, including the setting up of an Egyptian-South Korean technology university.

In statements to the media, President Sisi said that the South Korean experience “is a model to be followed” and he praised advancements in various fields.

The multi-billion dollar agreements included cooperation in the fields of higher education, justice, industry, trade, and railways, said the Presidency in a statement.

Hoping to tackle traffic woes and the fact that 10,000 people are killed on a yearly basis on Egypt’s roads, Egypt and South Korea signed one agreement on upgrading traffic signals and another related to Egypt’s road networks.

The leaders of the two countries also signed an agreement that would see an Egyptian-Korean higher institute for technology be established in Egypt. South Korea is known for its technological advancements, and some of the largest technology companies across the globe, such as Samsung, are South Korean.

The multi-billion dollar deals also includes investment and loans in solar energy and other renewable energy options, agreements to upgrade Egypt’s railway system and a port in Alexandria, and other investment in development projects across the country.

Despite concerns of instability, President Sisi has insisted that Egypt is safe for business and investment by South Korean companies and has encouraged South Korean companies increase their investments in Egypt.

South Korea marks the last destination on President Sisi’s Asian tour which also included Japan and Kazakhstan.

Barclays Bank Leaving Egypt and the Rest of Africa
International Airlines Threaten to Suspend Egypt Ticket Sales Over Revenue Repatriation Issues

Subscribe to our newsletter


News

More in News

Luxor’s Karnak Temple to be More Accessible for Special Needs Visitors

Egyptian StreetsApril 21, 2018

Egypt Faces 54 Billion Cubic Meters Water Shortage: Minister

Egyptian StreetsApril 21, 2018

Sudden Death of Swedish DJ Avicii Leaves Fans Sad, Shocked

Egyptian StreetsApril 21, 2018

Sudan Protests to United Nations Over Egyptian Voting in Disputed Area

Egyptian StreetsApril 19, 2018

300 Artifacts on Display at the Egyptian Museum for the First Time in Temporary Exhibition

Egyptian StreetsApril 19, 2018

Egypt’s Military Declares IS Leader is Killed in Sinai

Egyptian StreetsApril 18, 2018

102 Churches to be Legalised in Egypt

Egyptian StreetsApril 18, 2018

Egypt’s Unemployment Rate Drops to 11.8 Percent In 2017

Egyptian StreetsApril 16, 2018
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.

© 2017 Egyptian Streets. All Rights Reserved.