Minister of Petroleum and Mineral Resources Tarek El Molla received Kim Yong-Hyun, South Korean Ambassador to Cairo, who recently assumed his duties, to discuss ways to develop relations between Egypt and South Korea in the fields of oil, natural gas and green energy.

At the beginning of the meeting, the minister welcomed the ambassador, wishing him success in his new duties in Egypt.

During the meeting, El Molla confirmed that the development of the oil and gas sector in terms of infrastructure, activities and projects provides various opportunities for joint work with Korean companies in oil and gas trade and circulation projects, as well as storage depots in ports, supplying ships with fuel and maintaining them.

The minister highlighted the importance of discussing cooperation opportunities between the two sides in renewable and green energies in light of the distinguished experiences of Korean companies in this field.

El Molla stated that the implementation of a number of petroleum projects, foremost of which is the Egyptian Refinery project, represents a successful model for cooperation between the oil sector and Korean companies.

The minister also pointed out the importance of cooperation in the field of developing the human element, especially in light of the advanced training programs provided by the Korean side, to which the petroleum sector is keen to send young workers annually.

Yong-Hyun highlighted the importance his country attaches to developing economic relations with Egypt and developing the business of Korean companies, especially in the energy, oil and natural gas sectors.

He praised the great growth Egypt is witnessing in projects and investments, especially in the economic zone of the Suez Canal, adding that he perceives a common interest from the Egyptian side in developing cooperation with South Korea, pointing out that the Suez Canal and its economic zone represent an attractive factor for Korean investments and companies.