Egypt has signed five agreement and Memorandums of Understanding (MoU) with South Korea worth a combined cUSD3 billion, during Egypt’s president’s visit to South Korea. South Korea’s Export-Import Bank will offer the financing through facilitated loans: USD700 million  in facilitated government loans for development projects and a USD2.3 billion loans from the export credit agency for renewable energy projects. El Sisi met with major South Korean companies, including LG Electronics that revealed intentions of expanding operations in Egypt,  as well as Hyundai Heavy Industries Company and Doosan Heavy Industries & Construction to discuss Suez Canal and sewage system development in Egypt. Also, El Sisi urged SK Engineering and Construction to move ahead with implementation of  Tahrir Petrochemical Complex in Ain El Sokhna in addition to Hyundai Engineering and Construction Company expressing interest in Egypt’s railways development. (Al Mal, Enterprise)