On 01/01/1987 , South Korea has started to cooperate with Egypt.
Since the beginning of economic relations in 1987 until 2013, Korean ODA has reached USD 55,115,000 in the form of grants, including the sum of USD 28,548,000 funded by the Korean International Cooperation Authority (KOICA) since its establishment in 1991 for the purpose of financing projects and technical studies. Furthermore, KOICA presents training programs to Egyptian employees in various authorities and volunteers are dispatched to Egypt in different fields. KOICA started to present annual grants of USD 200- 360 thousand, which gradually increased to USD 5-7 million in 2008. Since 2011 a new grants program, entitled DEEP, has been introduced.
Exchanged letters between both governments, loan agreements or executive grants.
Latest aspects of cooperation :
The implementation of Phase II of the Distribution Automation System (DAS) Expansion Project is in progress along with setting a master plan for Northern Cairo DAS, in favor of the Ministry of Electricity and Energy- the Egyptian Electricity Holding Company (EEHC) through a grant worth USD 2,600,000. This project aims to expand the current DAS, reduce operation and maintenance costs and benefit from Korean expertise in the field of DSA. The project will generate significant economic income, and help raise EEHC profits. Moreover, it will encourage foreign investment in the field of electricity distribution, and increase the efficiency of distribution services management. (Phase I was completed in May 2011).
2015: exchanged letters were signed between both sides on 26th July 2015 to finance a project in the field of vocational training, to prepare a feasibility study on operating an integrated technological complex in Ameriya, Cairo. Relevant funding is provided by the Korean Fund for Educational Development worth USD one million. Legal procedures are in progress by the Egyptian Foreign Ministry for the project to enter into force.