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’s Christians Celebrate Palm Sunday

Egyptian StreetsApril 21, 2019

Egyptian Peacekeeper Killed While on Mission in Mali

Egyptian StreetsApril 21, 2019

130+ Killed in Eight Explosions Targeting Churches, Hotels in Sri Lanka

Egyptian StreetsApril 21, 2019

A Quick and Simple Overview of Egypt’s Constitutional Amendments

Egyptian StreetsApril 20, 2019

Mohamed Salah: ‘We Need to Change the Way We Treat Women in Our Culture’

Egyptian StreetsApril 18, 2019

National Referendum on Constitutional Amendments to Take Place from Saturday to Monday

Egyptian StreetsApril 18, 2019

Parliament Approves Constitutional Amendments Extending Presidential Term

Egyptian StreetsApril 16, 2019

Independent Egyptian News Site ‘Mada Masr’ Named 2019 Free Media Pioneer

Egyptian StreetsApril 16, 2019
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.