Egypt's FM meets South Korea's top bank chairman

Foreign Minister Sameh Shoukry met on Tuesday with the chairman of Export-Import Bank of Korea, the official export credit agency of South Korea, as part of his current visit to the East Asian nation.

The meeting took up the plans of the South Korean projects in Egypt, which need to be financed by the bank's accredit lines, Foreign Ministry spokesman Ahmed Abu Zeid said.

The top Egyptian diplomat stressed his country's desire to expand the aspects of economic and investment cooperation with South Korea.

"South Korea is a main partner of Egypt in development," Shoukry said, adding that South Korea has huge technological potentials and distinguished development expertise, especially in the infrastructure, energy, transport and information technology sectors.

The Egyptian minister lauded the bank's efforts to promote Egypt's investment opportunities.

For his part, the Korean official welcomed the current level of cooperation between Egypt and the bank.

He stressed the bank's readiness to boost cooperation during the coming period, including a project to develop railway signals in Egypt's Luxor.

The South Korean government has pledged a loan of 115 million dollars for the project.

Shoukry lauded a decision by the Korean government to carry out a project to generate photovoltaic energy in Hurghada and another one to generate renewable energy in Sohag.