(Unofficial Translation)

Hyundai Rotem executives and employees, I am pleased to meet you all. In this faraway land and under the COVID-19 situation, all of you are working so hard. Your best efforts are greatly elevating the pride we have in the Republic of Korea. I came here because I wanted to offer my gratitude and encouragement. Joining us from the Egyptian side are the Minister of Transportation, the Chairman of the National Authority for Tunnels and the CEO of the Sovereign Fund of Egypt. Thank you for being with us.

On my way here, I rode in one of your subway cars that had been manufactured with considerable effort. It looked well made and smart both inside and out. As I understand, not just Hyundai Rotem subway cars but also those of other companies operate mixed together on the Cairo Metro. I don’t know if I heard correctly, but I was told that the citizens in Cairo are willing to inconvenience themselves and wait for a later train just to board one manufactured by Hyundai Rotem. This fills my heart with great pride and a sense of contentment.

Our Hyundai Rotem has won orders to manufacture trains for Cairo Metro’s Line 1, 2 and 3 in part thanks to the global recognition of its high technological prowess. At the same time, it is because the company is making efforts to promote mutual benefit. About 30 percent of the subway trains to run on Line 3 are being produced locally, which benefits various SMEs and middle-market companies and helps create numerous jobs here in Egypt. Along with Hyundai Rotem, approximately 80 Korean SMEs and middle-market companies are entering overseas markets and raising the global standing of our railway and subway projects considerably.

Currently, Hyundai Rotem is in negotiations to supply additional trains going forward. In the case of Line 3, the Korean Government drew upon our nation’s Economic Development Cooperation Fund as part of the effort to help the company win the order. I promise to provide active government support for obtaining additional orders in the days to come.

Now, Egypt and Korea seem to have started working together in earnest. In the past, bilateral cooperation mainly focused on construction and plants, but now it is expanding to such areas as electric rail cars, subways, public transit systems and even eco-friendly transportation systems in the near future. Next, bilateral cooperation will also significantly expand in the fields of new future growth engines. President El-Sisi and I agreed on the issue at a summit yesterday, and businesspeople from our two countries held a business roundtable as well. I hope you have pride in the fact that Hyundai Rotem is at the forefront of these efforts, and I ask you to do everything you can.  

As I said before, the COVID-19 pandemic is still ongoing, and many people will not be able to return home even though the Lunar New Year holiday is only a few days away. Amid this situation, I ask you to do all you can and take good care of your health. I also hope the CEO actively looks after his employees so that they can later return in good health to their families. If there is anything that the Government can do to assist, please feel free to bring it up at anytime. 

Thank you.