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

Egypt Discovers ‘Oldest Mummy Ever Found’: Zahi Hawass

Egyptian Streets26 January 2023

Egypt’s Al-Sisi in India to Boost Strategic Partnerships and Investments

Farah Rafik25 January 2023

Forbes to Build its First-Ever Branded Tower in the New Administrative Capital

Marina Makary23 January 2023

Juhayna’s Founder and CEO Safwan Thabet and His Son Released From Prison

Egyptian Streets22 January 2023

Egypt Qualifies for Quarter-Finals of the 2023 Handball World Championship

Farah Rafik22 January 2023

Columbia University Names Nemat “Minouche” Shafik as 20th President

Mona Abdou20 January 2023

First All-Women UN Peacekeeping Unit is Formed of Only Egyptians

Mona Abdou19 January 2023

Handball World Championship: Egypt Defeats United States in a 35-16 win

Farah Rafik18 January 2023