Egypt lauds Korean support aligned with Vision 2030
The National Day, commemorated every July 23, celebrates the 1952 revolution that abolished the monarchy and established modern Egypt. As the country looks ahead, Vision 2030 serves as a blueprint to enhance the quality of life through justice, inclusion and civic participation.
'Complementing these investments, KOTRA, KOICA and the Export-Import Bank of Korea have supported Egypt's development through programs in green energy, digital transformation, vocational training and rural development — aligned with Egypt's Vision 2030,' said Rahman during a commemorative event in Seoul.
He highlighted Egypt's $59 billion commitment to building a new smart city east of Cairo — integrating artificial intelligence, the internet of things, automated infrastructure and sustainable transport, expressing gratitude toward Samsung, LG, Hyundai Rotem, KHNP and Doosan, for investments in projects such as metro trains to the El-Dabaa nuclear power plant.
'The distance between the Pyramids of Giza and the palaces of Seoul may be great, but our aspirations converge,' Rahman noted.
Egypt and Korea established diplomatic relations on April 13, 1995, evolving from cordial exchanges into a comprehensive cooperative partnership, significantly strengthened by Egyptian President Abdel Fattah el-Sissi's 2016 visit to Seoul and then-President Moon Jae-in's 2022 visit to Cairo.
Meanwhile, Lee Tae-woo, Korea's Ambassador for International Cyber Cooperation, noted that bilateral trade surged from $500 million in 1995 to over $3 billion in 2023.
Lee shared an Arabic saying, 'Al rafik kabl al tarik,' which means 'Choose your friend before choosing your path.' He added, 'With a good friend, even a tough road becomes enjoyable.'
The event was attended by members of the diplomatic corps, embassy officials, foreign residents in Korea, Korean company executives, nongovernmental organizations and the media.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
2 hours ago
- Korea Herald
S. Korea summons Japan's defence attach in protest over island claims
South Korea's defence ministry summoned Japan's defence attache on Tuesday to protest over an annual white paper published by Tokyo, which made a territorial claim over disputed islands located in the East Sea. Both sides claim longstanding territorial rights over the islands, which are known as Dokdo in Korean and Takeshima in Japanese, and lie roughly halfway between the two countries. South Korea's Defence Ministry said in a statement its international affairs chief Lee Kwang-seok had summoned the Japanese defence attache to Korea in protest. Lee demanded the immediate removal of Japan's territorial claims from the paper and added that the government will "sternly respond to any attempts to harm sovereignty over the Dokdo islands". Tokyo has claimed the islands as its own territory in its annual defence white paper for decades, prompting protests from Seoul. The islands are currently controlled by Seoul with a small contingent of coast guards. (Reuters)
Korea Herald
7 hours ago
- Korea Herald
Seoul shares up for 2nd day on tech gains despite tariff concerns
Seoul shares closed higher Tuesday, tracking overnight gains on Wall Street and boosted by technology stocks in the face of US President Donald Trump's latest tariff threats. The Korean won rose slightly against the US dollar. The benchmark Korea Composite Stock Price Index added 13.25 points, or 0.41 percent, to finish at 3,215.28. Trade volume was moderate at 415.06 million shares worth 11.94 trillion won ($8.6 billion). Decliners outnumbered gainers 510 to 364. Foreigners bought a net 212.29 billion won worth of shares, while institutions and individuals sold 20.8 billion won and 311.19 won stocks, respectively. Trump has notified key US trading partners of new tariff rates set to take effect Aug. 1 unless they offer improved terms in ongoing trade negotiations. "Trump has already sent a letter to South Korea notifying plans to impose 25 percent tariffs on South Korean products starting Aug. 1. The market had already priced in the news, causing no major jitters," Lee Kyoung-min, an analyst at Daishin Securities Co., said. Large-cap stocks were mixed. Market bellwether Samsung Electronics rose 1.92 percent to 63,700 won, and defense industry firm Hanwha Aerospace jumped 5.08 percent to 848,000 won. Leading shipbuilder HD Hyundai climbed 0.51 percent to 139,000 won, and leading shipping firm HMM gained 1.76 percent to 25,950 won. Among decliners, top carmaker Hyundai Motor fell 2.76 percent to 211,000 won, and leading steelmaker POSCO Holdings declined 0.16 percent to 321,000 won. The local currency was quoted at 1,380.20 won against the greenback at 3:30 p.m., up 1 won from the previous session. (Yonhap)
Korea Herald
7 hours ago
- Korea Herald
Canada's Cohere taps Seoul to lead AI growth in Asia-Pacific
Cohere, a Toronto-based security-first artificial intelligence company, announced Tuesday its expansion into the Asia-Pacific region, unveiling plans to establish a new office in Seoul. This move underscores Cohere's commitment to delivering secure, cutting-edge AI solutions to enterprises and governments across diverse languages and markets. The Seoul office will serve as a strategic hub for business growth and innovation throughout the region, reinforcing Korea's rising importance in the global AI landscape. 'We are excited to build a strong local team, support forward-looking clients and collaborate with government bodies to deliver meaningful and safe AI solutions that drive economic productivity,' said Cohere CEO and co-founder Aidan Gomez. To lead this initiative, the company has appointed Andrew Chang as the new president of Cohere APAC, who previously held executive roles at leading global tech companies such as Google Cloud, Microsoft, IBM and Samsung SDS. Cohere has already begun hiring top talent in Korea to accelerate the adoption of secure, multilingual AI solutions across regulated sectors that handle sensitive data, such as finance, health care and manufacturing. The company will also launch a research grants program, Cohere Labs, and strengthen partnerships with leaders like LG CNS, a Korean information technology solutions provider under LG Group, with whom it recently secured a major public sector AI project with the Ministry of Foreign Affairs. Cohere, founded in 2019 by three former Google Brain researchers, has raised a total of $970 million from major investors, including Nvidia and AMD. Its current valuation is estimated at around $5.5 billion.
