South Korea, Egypt upgrade ties to strategic partnership

South Korean President Lee Jae Myung and Egyptian President Abdel Fattah al-Sisi upgraded bilateral relations to a strategic partnership on Thursday, launching negotiations on a Comprehensive Economic Partnership Agreement (CEPA) and signing 12 cooperation documents covering defense, clean energy and information technology. The two leaders announced the decisions following summit talks in Seoul, according to statements from both governments, with Lee saying the proposed CEPA would strengthen bilateral trade and investment while helping South Korean companies expand into Middle Eastern and African markets.

Defense cooperation and technology transfer

Lee and Sisi agreed to deepen defense cooperation building on the joint production of K9 self-propelled howitzers, with Lee describing the project as a successful partnership and calling for cooperation extending beyond weapons exports to local manufacturing and technology transfers. The agreements also cover artificial intelligence, cybersecurity and high-speed internet infrastructure, while on his state visit Sisi met executives of 23 major South Korean companies at a business roundtable, his office said in a statement.

Suez Canal zone and regional hub

Sisi highlighted Egypt's "interest in expanding economic, investment, manufacturing and technology cooperation with South Korea," while outlining reforms undertaken to improve the investment and business environment. He also renewed Egypt's invitation for South Korean companies to establish an integrated industrial zone within the Suez Canal Economic Zone, saying it could serve as a "regional production and export hub for Korean companies seeking access to Egyptian, African, European and Arab markets."

He encouraged South Korean companies to expand investments in oil, gas and mining and explore opportunities in renewable and clean energy. Bilateral trade reached $874 million during January-August 2026 compared with $920 million during the corresponding period in 2025, according to Egyptian government statistics, with Sisi's visit representing his first to South Korea since 2016 following Lee's trip to Cairo last November.