Seoul: South Korea's efforts to localize its industries in Egypt, focusing on areas such as defense manufacturing and infrastructure, are anticipated to significantly enhance cooperation between the two nations, according to the top Egyptian envoy to Seoul.
According to Yonhap News Agency, Egyptian Ambassador to South Korea Khaled Abdel Rahman highlighted the opportunities arising from these initiatives, which allow Korean businesses to expand their presence in Egypt - a nation strategically positioned at the crossroads of Africa, the Middle East, and Asia. In an interview, Abdel Rahman emphasized the importance of industry localization in Egypt and expressed optimism about South Korea's bid to export FA-50 light attack aircraft and anti-tank missiles.
Abdel Rahman noted that Korea's advanced manufacturing capabilities could lead to a fruitful partnership, particularly if the defense collaborations include local production components. He cited existing defense partnerships, such as the 2022 agreement where South Korea's Hanwha signed a contract with Egypt's defense ministry to supply K9 self-propelled howitzers, marking a significant entry into the African market.
The ambassador pointed out that Egypt is a growing defense cooperation partner for South Korea, as evidenced by Hanwha's plans to export arms control systems to Egypt by 2028. "It reflects the deepening strategic partnership between the two countries," he noted. Abdel Rahman also identified promising sectors for cooperation, including energy, infrastructure, and digital transformation, while highlighting Egypt's efforts to attract Korean investments through regulatory improvements and incentives.
Egypt's ongoing construction of 14 smart cities presents substantial opportunities for foreign businesses, including Korean companies, to invest in critical areas like smart appliances and internet connectivity. Additionally, Abdel Rahman mentioned discussions with airline companies to resume regular direct flights between Seoul and Cairo, suspended since 2011, to boost tourism and business exchanges.
As the 30th anniversary of diplomatic ties between Egypt and South Korea approaches, preparations are underway for cultural events and economic forums to celebrate the milestone. Abdel Rahman concluded by urging continued collaboration in trade, technology, and infrastructure, alongside cultural exchanges to enhance mutual understanding and cooperation.