Ministry of Planning, Economic Development and International Cooperation Reviews the Development of the Strategic Partnership between Egypt and Korea

Coinciding with the Historic Visit of the Korean President to Egypt…

 

Ministry of Planning, Economic Development and International Cooperation Reviews the Development of the Strategic Partnership between Egypt and Korea

 

Korea is one of Egypt's most prominent Asian development partners in various fields.

 

The visit of H.E. President Abdel Fattah El-Sisi to Korea in 2016 gave a strong boost to relations.

 

Continuous increase in Korean investments in Egypt, particularly in the Suez Canal Economic Zone.

 

The presence of Korean investments reflects significant confidence in the investment environment and business climate.

 

Localization of industry and digital transformation are at the top of the priorities for cooperation between the two countries.

 

The Ministry of Planning, Economic Development and International Cooperation reviewed, in a report issued by it, the development of the strategic partnership between Egypt and South Korea, coinciding with the visit of H.E. President Lee Jae Myung, President of the Republic of Korea, to the Arab Republic of Egypt.

 

The historic visit of the Korean President to Egypt comes within the framework of the strategic relations between the two countries, which have witnessed increasing development since the visit of H.E. President Abdel Fattah El-Sisi to Korea in 2016. This was demonstrated in the increase of Korean investments in Egypt, the selection of Egypt as a strategic partner for Korea in development cooperation, and Korea's contribution to the implementation of numerous development projects through concessional financing, technical support, and exchange of expertise.

 

Development Cooperation Portfolio

 

The report by the Ministry of Planning, Economic Development and International Cooperation indicated that the portfolio of ongoing development cooperation projects with the Korean side exceeds $1.3 billion. This portfolio is characterized by diversity and a multitude of sectors, and is rich with a large number of joint cooperation projects that align with the Egyptian Government's priorities in several fields, primarily transport, education and training, vocational training, investment, trade, energy, and digital transformation; areas in which Korea has a relative advantage and a pioneering experience.

 

Korean Companies' Investments in Egypt

 

The report highlighted that Korea is one of Egypt's most prominent partners in Asia. Therefore, the Egyptian Government is keen to encourage major Korean companies to operate in Egypt through vital projects in various fields, in addition to the noticeable expansion of Korean investments in the Suez Canal Economic Zone, which reflects the confidence of the Korean business community in the Egyptian investment environment.

 

Localization of Industry and Transfer of Knowledge and Technology

 

According to the report, the two countries are working jointly to develop a roadmap for long-term cooperation and a close partnership that aligns with Egypt Vision 2030, advancing the utilization of Korea’s expertise in all fields, especially economic, investment, and industrial, and boosting cooperation with the private sector in both countries. Furthermore, the country platform for the NWFE program can be leveraged, as it is a country platform that represents an effective regional model for addressing adaptation and resilience challenges using innovative financing mechanisms, including blended finance.

 

The Ministry of Planning, Economic Development report reviewed the status of cooperation between the two countries in the fields of industry localization and transport, particularly railways. It clarified that, in continuation of the state's efforts to enhance industry localization and benefit from the distinguished Korean expertise in the transport sector, the project for the manufacturing and supply of 320 metro cars for the second and third lines of the Greater Cairo Metro is one of the most important projects currently being implemented with the Korean side.

 

In addition to the project for developing the signalling systems for Egyptian Railways, Nag Hammadi – Luxor, and the project for modernizing the railway signalling systems on the Luxor – High Dam line, both of which aim to enhance safety and security standards for the railway. Furthermore, there is the second phase of the Beni Suef Technological University project for technological education, aimed at skills development, technical training, and linkage with labor market needs, by integrating innovative curricula specially designed for the industrial sector in fields such as mechatronics, ICT, automated electronics, and railway technology.

 

The latest station in cooperation with the Korean side was the signing of the Mutual Letters for a grant on September 24, 2025, by the Ministry of Planning, Economic Development and International Cooperation and the Korean Ambassador in Cairo, for cooperation in the project to enhance vocational training in the field of green car maintenance, valued at $10 million, for the benefit of the Productive Efficiency and Vocational Training Authority (PEVTA) affiliated with the Ministry of Industry.

 

Artificial Intelligence and Digital Transformation

 

Regarding cooperation in the field of Artificial Intelligence and digital transformation, the Ministry was keen to expand the areas of cooperation with the Korean side by holding regular coordination meetings with officials from the Korean Embassy in Cairo and officials from the Korean International Cooperation Agency (KOICA), to open new horizons for cooperation with the Korean side in several areas, most importantly digital transformation, Artificial Intelligence, and its applications.

 

The report added that among the most important ongoing projects serving the field of digital transformation is the project for improving the public e-procurement system in Egypt for the benefit of the Government Services Authority and in coordination with the Ministry of Finance, which aims to support the Egyptian Government's efforts towards digital transformation.