Shoukry discusses investments with business leaders in South Korea

Daily News Egypt
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Egyptian Foreign Minister Sameh Shoukry adresses the UN Security Council on regional terrorism threats UN official website

Egyptian Foreign Minister Sameh Shoukry held meetings with business leaders, including the heads of Samsung, Hyundai and Doosan Company during his visit to South Korea in the past two days.

Shoukry’s meeting with Hyundai Engineering and Construction Co. included discussions reflecting the company’s interest in participating in future projects to establish nuclear power stations in Egypt.

Hyundai also expressed its eagerness to participate in the construction of the fifth and sixth Cairo Metro lines.

Furthermore, Shoukry’s meeting with the head of Samsung included discussions on increasing the company’s investments in Egypt and expanding its scope, as well as contributing to the advancement of scientific research in industrial fields.

Established in 2012 in the Beni Suef governorate, Samsung Egypt is considered the first in the Middle East and North Africa (MENA) region. The first stage of production involves TV screens and computers, while the second stage involves the production of home appliances.

The head of Samsung and Shoukry agreed to rapidly finalise the second stage, in which investments will reach a total of $210m.

Doosan Company also expressed its interest in investing in the construction of power stations and desalination plants.

Shoukry called on Samsung to direct investments towards the Suez Canal Axis Development project through the establishment of logistics zones, while Hyundai for Heavy Industries expressed its interest in establishing ports and the construction of ships in the Suez Canal area.

The visit comes as part of Shoukry’s Asian tour to South Korea and Japan, which began Saturday, amid efforts to strengthen political, economic and trade relations with the two countries. The tour is expected to last for a week, beginning with South Korea’s visit, followed by Japan.

In addition, Shoukry met with the head of the Foreign Relations Committee in the Korean Parliament, as they discussed bilateral relations, marking 20 years of diplomatic relations between both states. Shoukry expressed President Abdel Fattah Al-Sisi’s willingness to visit South Korea in the near future.

The Egyptian foreign minister also conducted interviews with Korea’s press agencies, including KBS radio station and newspaper Chuson Ilbo and the leading Yonhap News Agency.


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