Egypt and South Korea Discuss Establishing a Korean Car Factory in Egypt

Dr. Badr Abdel Aty, Egypt's Minister of Foreign Affairs, Immigration and Egyptian Expatriates, held an expanded discussion session with his South Korean counterpart, Foreign Minister Cho Hyun, during his current visit to the South Korean capital, Seoul. The two sides co-chaired the first round of the strategic dialogue between the two countries, a step that reflects the growing momentum in Egyptian-Korean relations in recent times.

Strategic Dialogue as a New Mechanism for Cooperation

Minister Abdel Aty emphasized the importance of launching the strategic dialogue as a new mechanism to enhance bilateral cooperation, building on the outcomes of the visit of the President of the Republic of Korea to Egypt in November 2025. This aims to elevate the level of political and economic partnership between the two countries and open new horizons for cooperation in advanced industrial and technological sectors.

Boosting Economic and Investment Cooperation

The discussions placed special focus on enhancing economic and investment cooperation. The Foreign Minister called for intensifying mutual visits by businessmen and investors, activating the role of the joint Egyptian-Korean Business Council, and working to launch an annual economic forum that brings together the business communities of both countries.

In this context, Abdel Aty reviewed the economic and structural reforms implemented by Egypt in recent years, which have contributed to improving the investment climate and increasing the attractiveness of the Egyptian market for global companies. He pointed to the promising opportunities offered by the Suez Canal Economic Zone and the government incentives allocated to foreign investors.

Automotive Industry as a Future Cooperation Focus

The automotive industry stands out as one of the most prominent areas of future cooperation between Cairo and Seoul, given the strong presence of Korean companies operating in this sector globally, and Egypt's pursuit to become a regional hub for manufacturing and assembling both conventional and electric vehicles, as well as localizing feeder industries. The Suez Canal Economic Zone and the new investment incentive system provide an attractive environment for expansions by Korean companies seeking to access African and Arab markets from Egypt.

The Foreign Minister also expressed Egypt's appreciation for being selected as a strategic partner for Korean development cooperation, stressing the importance of expanding cooperation in education, technology, and human resource development. This supports the provision of qualified technical labor for advanced industries, foremost among them the automotive, electronics, and industrial components sectors.

The discussions also touched on opportunities for trilateral cooperation between the two countries in other fields, further strengthening the prospects for a comprehensive partnership between Egypt and South Korea.