South Korea eyes multi-million dollar investments in Egypt

South Korea eyes multi-million dollar investments in Egypt

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Tue, 18/12/2012 - 18:05

South Korea plans to invest US$583 million in Egypt, South Korean ambassador Young-so Kim said on Tuesday, adding that the trade exchange volume between the two countries has reached $2.4 billion.

Egypt has the qualifications to become one of the most economically important countries in the next five years, Young-so said during a visit to Sharqiya with a Korean delegation, including “qualifications of success, experience, human resources, good location and responsible leadership.”

He added that the economic renaissance in South Korea began when the state started investing in education and human resources. He said he spoke with Education Minister Ibrahim Ghoneim on methods of improving the education system in Egypt.

The ambassador said he also plans to visit 10th of Ramadan City east of Cairo, as some Korean factories may be moved there.

Edited translation from MENA