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Egypt’s Al-Sisi, Hyundai Rotem CEO discuss localising train industry

Yong-Bae Lee expressed his company’s intention to benefit from promising investment opportunities in Egyptian economy.
28.04.21 | Source: Daily News Egypt

Egypt’s President Abdel Fattah Al-Sisi received Yong-Bae Lee, Chairperson and CEO of the global Korean company Hyundai Rotem in Cairo, on Tuesday, to discuss localising the train industry.

The meeting dealt with a review of the joint cooperation with Hyundai Rotem, which would include signalling and communication systems, and control and command equipment, according to a statement from the Egyptian Presidency spokesperson.

During the meeting, Al-Sisi emphasised South Korea’s role as an effective development partner to Egypt. 

He added that Egypt is looking forward to establishing strategic cooperation with the Korean company in many industrial fields, especially in the heavy industries sector that depends on labour intensity and advanced technology.

Also present at the meeting were: Prime Minister Mostafa Madbouly; Minister of Planning and Economic Development Hala El-Said; Minister of Transportation Kamel El-Wazir; and Nevine Gamea, Minister of Trade and Industry; Mohamed Ahmed Morsi, Minister of State for Military Production; as well as Ambassador of the Republic of Korea to Egypt, Hong Jin-wook.