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Korea eyes higher exports, joint production with Egypt

Businessmen Team news 21 November 2025 03:49 PM
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Korea eyes higher exports, joint production with Egypt

South Korean President Lee Jae-myung, speaking at Cairo University during his official visit, praised the "comprehensive cooperation partnerships" between Seoul and Cairo, noting that reciprocal visits and trade have built a strong foundation for the relationship.

The President expressed his ambition to elevate cooperation, based on mutual respect, particularly in energy, construction, innovation, Artificial Intelligence, hydrogen, and education.

Lee Jae-myung highlighted existing cooperation models, such as joint projects for electric trains and mobile phones. He affirmed his push for increased exports and joint production through a Comprehensive Economic Partnership Agreement (CEPA). He attributed Korea's status as a strong global economy partly to importing energy from Middle Eastern countries.

He announced several scholarships for Egyptian students, including Master’s degree programs in Information and Communication Technology (ICT), and various training initiatives in Korea.

The President introduced the "SHINE" initiative, which focuses on Peace, Prosperity, and Culture, aiming for stability and a bright future for both the Middle East and the Korean Peninsula. He confirmed the Korean government’s role in promoting peace in the Middle East.

Lee Jae-myung announced a $10 million contribution to the Egyptian Red Crescent and confirmed an agreement with President Abdel Fattah El-Sisi for Korea to participate in the reconstruction of the Gaza Strip.

He expressed a desire to expand cooperation between the Grand Egyptian Museum (GEM) and the National Museum of Korea, including expertise exchange, which he deemed vital for cultural ties. He concluded by telling the youth that they are the future leaders who will drive a brighter path for both nations and the Middle East, conveying his deep admiration for ancient Egyptian civilization.

The Korean President delivered his address on South Korea’s Middle East initiatives in the Grand Celebration Hall of Cairo University, with attendance from Dr. Ayman Ashour (Minister of Higher Education and Scientific Research), Mohamed Abdel Latif (Minister of Education), Dr. Mohamed Sami Abdelsadek (President of Cairo University), and a large delegation of ministers, ambassadors, and students.