Seven cooperation agreements between Egyptian and Korean companies

A statement issued by the Egyptian ministry of trade today confirmed the signing of seven cooperation agreements between the Egyptian and Korean companies in the automotive industry, television set production, heavy transportation vehicles, plastic materials, and manufacturing household appliances like washing machines and refrigerators.

Korean participation in the agreements varies from 15% to 30% of the capital for these new projects, and each company's capital varies from 20 from to 90 million pounds.

The statement also added that these agreements come after the successful visit paid by Egyptian President Hosni Mubarak to Seoul and increase the areas of joint cooperation between the two countries.