Mostafa Kamel Abdel Basset Mostafa Hadhoud, former governor of Egypt's Beheira Governorate, urged South Korean companies to deepen industrial cooperation in chemicals and manufacturing.

“We import $25 billion worth of chemicals each year. South Korea is very advanced in this industry,” said Hadhoud, speaking to The Korea Herald in Seoul on Friday.

According to Hadhoud, Egypt produces only 25,000 metric tons of fiber locally, but its total demand is 450,000 tons.

“Korean companies produce some of the best synthetic fibers — like acrylic, which resembles natural silk,” Hadhoud said, commending the bridging of demand and supply.

While acknowledging the cost-effectiveness of Chinese and Turkish firms, Hadhoud stressed a preference for Korean companies due to the county's advanced production facilities and strong expertise in chemicals, polymers and high-tech industries, as demonstrated in projects across Asia.

Hadhoud also identified tires, fiberglass, recycling and solar energy as additional sectors for cooperation. Egypt imports $2.3 billion in tires each year, and producing just one-third locally could present a significant investment and growth opportunity, he said.

The former governor encouraged Korean investment through fifty-fifty joint ventures with Egyptian firms, highlighting the Arab Organization for Industrialization and past collaborations with Hyundai.

“Samsung has a big factory in Beni Suef … LG also has a huge factory in the Tenth of Ramadan City. These two companies are successful examples of Korean investments in our country,” he said.

Hadhoud urged Korean companies to “look beyond the Gulf” and consider Egypt as a strategic investment destination. “Today, our energy (electricity) production is 53 gigawatts … we have a surplus,” he said.

“Korean companies should not focus only on Saudi Arabia and the UAE. … They are welcome in Egypt,” he said, suggesting joint ventures and development funds such as EDCF to ease investment concerns.