South Korean investments in Egypt hit $800mln

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The number of South Korean companies investing in Egypt surpassed 170, Jin-wook noted

Staff Writer, Arab Finance

September 16, 2022

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South Korean investments in Egypt amount to around $800 million, the South Korean Ambassador to Cairo Hong Jin-wook stated in a meeting with Egyptian Minister of Finance Mohamed Maait on September 14th.

The number of South Korean companies investing in Egypt surpassed 170, Jin-wook noted.

The East Asian country is looking forward to further economic cooperation between the two countries over the coming period, the Ambassador added.

He also indicated that the trade between both countries is moving towards balance due to the increase in Egyptian exports.

For his part, Maait stressed that the ministry’s keenness on supporting the South Korean companies operating in Egypt, which would encourage the companies to expand their investment activities.

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