A number of Korean small and medium -sized companies such as the Shen Steel and Yuno Global are taking place with Egyptian partners to establish joint projects, according to Sukho Lee, Director General of the Korean Agency Office to Promote Investment and Trade in Egypt «Cutra».
He said that Samsung Electronics is currently producing television devices at its factory in Beni Suef, stressing that it will increase its capacity to produce 2 million units of tablets annually, adding that Hyundai Rotim is planning to manufacture subway vehicles, signals, control and command equipment..
He added in an interview with "Al -Mal" through the "Zoom" application, that 33 Korean companies operate in the local market and have investments and commercial businesses in Egypt.
He said that, according to the export statistics of the Korean Export and Import Bank, the total volume of Korean investments operating in Egypt is currently about 410.619 million, adding that the volume of Korean investment flows locally recorded in 2019 about 29.017 million dollars, but these flows fell to 19.926 million last year.
He presented the latest developments regarding the free trade agreement that will be signed between Egypt and South Korea, and he said that South Korea has free trade agreements with 56 countries around the world, such as the European Union, the United States, China, ASEAN, India, Indonesia, Canada, Turkey and others.
He pointed out that these agreements cover 77 %of global trade -according to him -explaining that the agreement expected to be concluded with Egypt will strengthen relations and will benefit the two countries significantly in many fields, stressing that the discussions regarding them are currently at an early stage.
اقرأ أيضارئيس هيئة الأنفاق: تذكرة قطار العاصمة الإدارية تراعي البعد الاجتماعي للمواطنينHe pointed out that the Minister of Trade in the Ministry of Trade, Industry and Energy in South Korea held a meeting online recently with his Egyptian counterpart Nevin Jameh and suggested the formation of a research group for the Free Trade Agreement as soon as possible to start discussing this agreement between the two countries.
Nevin Jami, Minister of Trade and Industry, held a session of talks with her Korean counterpart Han Kuu, on September 7, and stressed during the session that she held through video technology, Egypt, Egypt was keen to enhance economic, commercial and investment cooperation with South Korea, especially with the two countries' association with strategic relations based onA long history of cooperation in various fields and at various levels, noting that the Egyptian government is keen to benefit from Korean experiences and transfer it to the Egyptian industry, especially in the field of technological industries in which Korea is characterized by great competitive experiences and features.
In another context, the director of the Cuttra office in Egypt said that his country contributes to the efforts made by Egypt to combat the Korona pandemic, indicating that last November contributed to providing a number of medical devices such as CT scans and oxygen tanks for Egyptian hospitals.
In December, Korea provided a number of medical products such as groups and masks of Corona's diagnosis, adding that the Egyptian Ministry of Health was very supportive of Korean companies operating in Egypt to prevent infection with the Corona virus;For example, a vaccination was provided to the employees of the Korean companies invested.
اقرأ أيضاأسعار الأعلاف تواصل الارتفاع.. و1500 جنيه زيادة في الطن خلال أسبوعThe Ambassador of the South Korean Republic to Egypt, Hong Jin Wook, confirmed during his meeting with the Minister of Health September 12, his country's interest in expanding bilateral cooperation with Egypt in the health and medicine sector, in line with Egypt's vision to become a regional center for the manufacture and distribution of the drug, stressing that the health sector isOne of the important aspects of cooperation between the two countries, which can be strengthened more, especially with the choice of Egypt as a strategic partner for South Korea and a priority country in development cooperation during the next five years..
The Ambassador of Korea also met with Dr. Tamer Essam, head of the Egyptian Pharmaceutical Authority, on September 16, and discussed with him ways to enhance medical cooperation and the drug industry, and pointed to the symposium scheduled to be held on September 27 to introduce the capabilities of the Egyptian medical and pharmaceutical market for Korean companies with about 50 Korean companies.
Sukho Li said that Kuttra means the Korean Trade and Investment Promotion Agency, and was established in Korea in 1962 to enhance trade and investment between them and the rest of the world, and added that its main headquarters is located in Seoul, and it has 127 external offices in 85 countries.
He pointed out that its office was opened in Cairo in 1974, and since then the office has played a role in promoting trade and investment between Korea and Egypt.
He pointed out that the Cuttra Egypt office focuses on the support of Korean companies to enter into the areas of manufacturing, environment, health and medical care, and others, stressing the great concern of the Egyptian government on industrial development, so its agency efforts are heading towards these areas.
اقرأ أيضابروتوكول تعاون بين البورصة والجامعة المصرية الصينيةHe said that the bilateral relations between the two countries at the present time are good, stressing that Egypt is the Gate of the Middle East, Africa and a leading state in the region in terms of economy and politics, adding that South Korea was very keen to cooperate with Egypt.
He pointed to Egypt's interest in the experience of South Korea's economic development, stressing that relations will delve into the two countries in the future, especially since both parties can benefit from the other..
He stressed that the relationship between the two countries dates back to 1962 when the office of the Consulate General of the Republic of South Korea was opened for the first time, and since then, the relationship has evolved to establish diplomatic relations in 1995, and in 2016, President Abdel Fattah El -Sisi visited South Korea and agreed to a cooperation partnershipComprehensive with it.
In September 2018, the Egyptian and Korean Presidents held a summit in New York during the United Nations General Assembly meeting.
He added that the Korean Cultural Center was opened in 2014, and the Korean Language Department was established at Ain Shams University in 2005, adding that this is the first case for the establishment of a Korean language section at the university level in Africa and the Middle East - according to his saying -.
He emphasized that both K-Pop music and K-Movies "are very popular in Egypt, adding that many Egyptians are interested in learning the Korean language.