Egypt, South Korea sign military agreement

Egypt and South Korea on Sunday signed an agreement for developing and modernizing the Egyptian naval arsenal and updating it to repair ships in the world market. The agreement also provides for involving the Alexandria naval arsenal and South Korean Daewoo company to develop and update the naval arsenal, said the Korean news agency. The agreement was signed by Egyptian Prime Minister Kamal al-Ganzouri and his South Korean counterpart, Kim Chong-pil.