South Korean trade minister: We are keen on increasing investments in Egypt

South Koran Minister of Trade Joo Hyung-hwan has asserted the keenness of the South Korean companies on investment in Egypt's markets, especially in the Suez Canal corridor economic zone.

Addressing the Egyptian-Korean Business Forum on Thursday, he said the South Korean companies can benefit from the corridor areas especially in the fields of petrochemicals, water desalination, electricity generation and new and renewable energy.

The Korean minister pointed out that his visit to Egypt leading a delegation of major Korean companies was the translation of the outcome of President Abdel Fattah El Sisi's visit to South Korea in March as the leaders of the two countries agreed on strengthening bilateral economic cooperation. 

Head of the Egyptian side of the Egyptian-Korean Business Council Raouf Ghabbour had expressed Egypt's keenness on helping Korean investors to do business in the country.

At the Egyptian-Korean Business Forum on Thursday, Ghabbour urged the Egyptian government to activate its urgent plans to develop the industry sector and lure more foreign investments to the country.

President Sisi and his South Korean counterpart Park Geun-hye had attended on March 3 the signing ceremony of nine agreements on joint cooperation in several fields including higher education, justice, industry, trade, railways and upgrading ports.