«For Building and Development» .. Signing a memorandum of understanding between Egypt and South Korea

In a very promising step, the Administrative Capital Company for Urban Development signed a memorandum of understanding with the National Agency for the Construction of Administrative Cities in the Republic of South Korea, with the aim of cooperation and exchange of experiences and knowledge between the two sides.

A virtual signing ceremony of the Memorandum of Understanding for cooperation in the field of urban development between Egypt and South Korea was held yesterday, represented by the National Agency for the Construction of Administrative Cities in Korea (NAACC) and the Administrative Capital Company for Urban Development in Egypt (ACUD).

Khaled Mahmoud Abbas, Chairman and Managing Director, and Sangrae Lee, President of the National Agency for the Construction of Administrative Cities, signed the agreement, in the presence of Ambassador Khaled Abdel Rahman, Ambassador of Egypt to Seoul, Ambassador Jinwook Hong, Korean Ambassador to Cairo, and a participating delegation from each side and leaders of the Administrative Capital Development Company, Urban on the agreement to establish administrative cities in South Korea.

Khaled Mahmoud Abbas, head of the Capital Company, referred to the volume of growing cooperation between Egypt and the Republic of South Korea, and the close relations between the two countries.

He stressed the importance of the benefit accruing to both parties through the memorandum of understanding that was signed, calling for the importance of starting as soon as possible in activating all the provisions of the memorandum of understanding.

The head of the National Agency for the Construction of Administrative Cities stressed the depth of relations between the two countries and the expected return to Sejong City and the new administrative capital.

The signed Memorandum of Understanding aims to:

• Enhancing cooperation and exchanging experiences and knowledge in the field of urban planning, smart cities, water and energy management.
• Exchanging information, experiences, knowledge, technology, dispatching experts and capacity building, identifying any other patterns jointly decided by the two sides.