The Egyptian government has announced that it would send an economic delegation to South Korea in the near future to examine ways to bolster cooperation in several fields, including nuclear energy, Al-Hayat reported Sunday.
According to the London-based newspaper, Egypt is seeking to increase its trade with South Korea.
South Korean officials have said that Samsung has decided to establish its first center for development and research in Egypt, an investment worth more than US$300 million.
The Egyptian Tourism Ministry will also work to attract South Korean tourists back to Egypt. Around 76,000 South Korean tourists visited Egypt every year before the 25 January revolution. The Egyptian government also plans to resume direct flights between the two countries.
Total trade between Egypt and South Korea exceeds $3 billion a year, but Egyptian exports to South Korea remain low, with oil constituting 95 percent of them. South Korean investments in Egypt amount to $1 billion while Egyptian investments in South Korea are almost negligible, as investment in South Korea requires large amounts of capital and advanced technology.