South Korea’s total investments in Egypt stood at EGP 445 million over 171 projects, Egypt’s trade minister Tarek Kabil said in a statement on Wednesday.
South Korean projects in Egypt are focusing on the sectors of electronics, textile industries, vehicles, petrochemicals, construction materials, and new renewable energy, Kabil highlighted.
Trade exchange between Egypt and South Korea amounted to $1.44 billion, he added, pointing out that trade balance is in favour of the Korean side.
This came as part of Kabil’s meeting with the members of the Egypt-Korea Business Council to discuss mutual cooperation between both parties and South Korean investments in Egypt over the coming period.
Egypt aims at luring investments worth $13 billion to $15 billion in fiscal year 2017/2018.