Egypt's Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat announced that South Korea's concessional financing portfolio in Egypt reached $1.3bn in 2025. The figure was revealed during a meeting with outgoing South Korean Ambassador to Cairo Kim Young-hyun, marking the end of his tenure. Al-Mashat praised the ambassador's contributions to bilateral ties.
On Wednesday, December 24, 2025, Rania Al-Mashat, Egypt's Minister of Planning, Economic Development and International Cooperation, disclosed that South Korea's concessional financing portfolio in Egypt had grown to $1.3bn. She attributed this expansion to joint programs, technical support, and knowledge exchange between the two countries.
"This growth not only reflects the vitality of bilateral cooperation through concessional financing… but also underscores the strength and depth of the ties binding the two countries," Al-Mashat stated.
The meeting reviewed the bolstering of bilateral relations across various economic sectors during Ambassador Kim Young-hyun's tenure. Al-Mashat commended his efforts in advancing cooperation in strategic areas that align with Egypt's development priorities and support sustainable and inclusive growth goals.
Kim expressed his gratitude to Al-Mashat for the ongoing coordination to enhance the effectiveness of bilateral relations. Discussions also referenced the South Korean President's visit to Egypt last November, which reaffirmed both sides' commitment to elevating ties. Egypt had been selected by South Korea as a strategic partner for development cooperation during the 2020–2025 period.
The Egyptian government plans to build on this partnership in the coming phase to explore additional areas of cooperation, according to the ministry's statement. In October, Al-Mashat attended the South Korean Embassy's celebration of Korea's National Day, marking 30 years of formal diplomatic relations. During that event, she held a bilateral meeting with the South Korean President's Special Envoy to discuss future cooperation based on shared priorities.
