Administrative Capital for Urban Development (ACUD) signs a memorandum of understanding (MoU) with the South Korean National Agency for Administrative City Construction (NAACC) for cooperation in urban planning, smart cities, and hydropower, Invest-Gate reports.

Under the MoU, ACUD and NAACC exchange information, expertise, knowledge, and technology.

It also provides for competency building and education.

Chairman of ACUD, Khaled Abbas, highlights the increasing cooperation between Egypt and South Korea and the solid relations between the two countries, stressing the importance of the benefits of the MoU for both parties.

For his part, the Head of the NAACC, Sangr Lee, refers to the deep relations between Egypt and South Africa and the positive returns of the protocol on the New Administrative Capital and Sejong City.