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The leaders of South Korea and Egypt launched negotiations on Thursday for a Comprehensive Economic Partnership Agreement (CEPA) to boost trade and investment between the two nations. President Lee Jae Myung and Egyptian President Abdel Fattah El-Sisi also decided to elevate their bilateral relations to a strategic partnership, paving the way for enhanced cooperation in defense, energy, and technology, alongside trade and investment.

The announcements came during a summit at Cheong Wa Dae in Seoul, as part of Egyptian President El-Sisi's state visit to the country.

CEPA agreements are a type of free trade agreement that goes beyond market liberalization to promote broader economic cooperation, including investment and other areas of economic collaboration. The talks on the CEPA followed an agreement to pursue the pact that was made at their previous summit in Egypt in November 2025. Their reunion in Seoul marks about 11 months after the previous meeting, with El-Sisi making his first visit to South Korea in a decade.

President Lee expressed optimism about the CEPA talks, stating that they would lay a solid institutional foundation for realizing the economic development goals of both countries. He added that the two nations could benefit from various areas of mutual interest.