SCZONE aims to attract more Korean companies in targeted industry sectors: Chairman

Walid Gamal El-Din, Chairman of the Suez Canal Economic Zone (SCZONE), warmly welcomed the delegation of the Korean Egyptian Development Association (KEDA) at the SCZONE headquarters in Sokhna. The delegation, led by Kang Won-Sik, chairman of KEDA, included several leaders and officials of the association.

During the meeting, Gamal El-Din established contact with representatives of various Korean companies, each of which specializes in different sectors. These companies included: Eastern R&E (railcars and components), Tunemoli (cosmetics manufacturing), NST (Internet of Things), Good Elevator (elevator installation and maintenance), ANFire Solution (fire safety management), HYUNDAI FENCE CO (iron fences) , SAN Food Value (food storage technology), E & Bridge (biodiesel production) and TTS (electric motorcycles).

The discussions culminated in the signing of a Memorandum of Understanding (MoU) between the National Egyptian Railway Industries Company (NERIC) and Eastern R&E. The purpose of the MoU is to streamline railcar production projects, facilitate technology transfer and provide oversight of production quality. The signatories were Ahmed El-Mofty (Project Manager at NERIC), Eui-Se Lee (Chairman of Eastern R&E) and Kang Won-Sik (Chairman of KEDA).

Gamal El-Din emphasized SCZONE’s commitment to attracting more Korean investments, leveraging the strong relationship between Egypt and Korea. He praised KEDA’s role in strengthening ties and highlighted the ongoing cooperation between Korean companies and NERIC in the East Port Said Industrial Zone. In particular, the partnership with Hyundai Rotem and Eastern R&E opens the door to further investments in targeted sectors, benefiting both local and African markets.

Gamal El-Din also highlighted SCZONE’s strategic location, skilled labor, investment incentives and smooth integration of ports with industrial areas.

Kang Won-Sik expressed gratitude for the warm welcome and emphasized that Korean companies exploring investment in the Middle East appreciate Egypt’s strategic location and abundance of raw materials. He called for more frequent mutual visits to showcase investment opportunities for Korean investors under SCZONE.

Following the meeting, the delegation conducted a field visit to the Sokhna Integrated Industrial Zone, visiting facilities such as the Heng Tong Egypt factory (electrical and optical fiber products), Media Egypt (home appliances) and the National Steel Fabrication (NSF) plant.

Cooperation between Egypt and Korea continues to strengthen, supporting economic growth and bilateral relations.