South Korea aims to increase its investments in Egypt to $3b mainly in renewable energy, according to Korea’s Minister of Trade, Industry and Energy, Joo Hyunghwan, Daily News Egypt reported.

According to Tarek Kabil, Egypt’s Minister of Trade and Industry, Korean companies seek to explore the Egyptian market, especially in the areas of small and renewable energy.

Hyunghwan said that there are efforts between Egypt and Korea to achieve this goal and to increase the volume of trade exchange between the two countries.

Kabil has signed a protocol of cooperation with his Korean counterpart, which is to support small and medium industries.

Meanwhile, International Cooperation Minister Sahar Nasr received a delegation from the Export-Import Bank of Korea to discuss other projects to be carried out in Egypt in electricity, water treatment and desalination, All Africa wrote