Egypt’s Minister of Investment and Foreign Trade Hassan El-Khatib met with South Korean Ambassador to Cairo Kim Young-Hyun and his delegation to discuss boosting economic ties and increasing Korean investments in the country, according to an official statement.

El-Khatib emphasized the need to align investment and foreign trade to drive economic growth, reaffirming the government’s commitment to drawing leading Korean companies. 

He pointed out that Egypt’s advanced infrastructure and extensive network of free and preferential trade agreements offer Korean investors a gateway to regional and global markets.

The minister also highlighted Egypt’s competitive strengths, including its strategic location, availability of land and industrial zones, skilled labor force trained to international standards, and cost competitiveness. 

He reviewed reforms aimed at simplifying investment procedures, including an integrated electronic platform linking state agencies to cut time and costs and improve transparency. 

He also noted that customs clearance times have already been reduced, with a target of two days.

Ambassador Young-Hyun commended Egypt’s efforts to grow exports and attract investors, citing the strong presence of Korean companies such as Samsung and LG. He also invited El-Khatib to visit South Korea to exchange expertise and explore further cooperation in investment and manufacturing.