President Park Geun-hye shakes hands with President Abdel Fattah El Sisi of the Arab Republic of Egypt following summit talks at Cheong Wa Dae on March 3.

President Park Geun-hye met with President Abdel Fattah El Sisi of the Arab Republic of Egypt at Cheong Wa Dae on March 3. During their summit, the two Presidents had extensive discussions on a wide range of issues, including ways to promote bilateral cooperation in the areas of economy and trade, infrastructure construction, development initiatives, culture and education, as well as cooperation at the international level and regional affairs. 

President El Sisi’s visit to Korea is the first by an Egyptian president since President Hosni Mubarak made a visit here in 1999, 17 years ago. It was the second time President Park met with President El Sisi, following their first bilateral summit held in September 2014 on the sidelines of the United Nations General Assembly.

On this occasion, a total of nine MOUs were signed between Korea and Egypt. Notably, the two sides agreed to pave the way for Korean businesses to participate in a range of infrastructure projects in Egypt worth approximately $3.4 billion, including the construction of railways, a metro system and a desalination plant.

In addition, the two leaders reached an agreement to pursue photovoltaic power generation and waste-to-energy projects as a joint project between the Green Climate Fund and the Economic Development Cooperation Fund. They also agreed to further expand energy cooperation between the two nations, in particular, by promoting the participation of Korean businesses when Egypt finalizes the details of the plans for the construction of additional nuclear power plants. 

The two Presidents also agreed to make continuous efforts to expand bilateral trade, which amounted to a total of $2.4 billion last year. They also decided to strengthen trade and investment and reinforce industrial cooperation, including nurturing Egypt’s key industries such as textiles, shipbuilding and automotive components, and developing and managing industrial parks.

Lee Joon-sik, education minister and deputy prime minister for social affairs, signs an MOU with Egyptian Foreign Minister Sameh Hassan Shoukry as President Park and Egyptian President El Sisi look on. (Photos on courtesy of Cheong Wa Dae)

Statement by President Park on UN Security Council Resolution on North Korea Sanctions

The adoption of the unprecedentedly tough sanctions resolution against North Korea by the UN Security Council n March 3 represents a strong message from the international community seeking peace on the Korean Peninsula and around the world.

I highly appreciate the efforts of the international community, including the Members of the Security Council, to reach this result for the dismantlement of North Korea’s nuclear program and peace on the Korean Peninsula. I will continue to strengthen the close ties of cooperation with the international community.

I sincerely hope that the North will abandon its nuclear development program and embark on a path of change, and I will make further efforts for peace and unification of the Korean Peninsula.