First Korean Investment in Qantara West: Head of Suez Canal Economic Zone Signs $12 Million Apparel Project with H&L Korea

Waleid Gamal El-Din, Chairman of the General Authority for the Suez Canal Economic Zone (SCZone), signed a contract at the Authority’s headquarters in Egypt’s New Administrative Capital with H&L Egypt Apparel, a Korean company specializing in ready-made and sportswear. This marks the first Korean investment in the Qantara West Industrial Zone, part of SCZone. The planned factory will span 40,000 square meters, with investments totaling $12 million (approximately EGP 570 million), and is expected to create around 2,000 direct job opportunities. The contract was signed by Mr. Song Jun Lee, CEO of the company, in the presence of senior executives from both sides.

During the signing ceremony, Gamal El-Din stated that the Authority is steadily advancing its strategy to localize and deepen industrial activity by attracting the textiles and ready-made garments sector to Qantara West. He noted that this approach helps reduce production costs by relying on locally available raw materials, products, and logistics services instead of imports. These efforts align with Egypt’s national economic development narrative, which aims to support economic reform and promote a shift toward productive and export-oriented sectors. He also emphasized the Authority’s commitment to strengthening partnerships with the private sector to attract more investments in targeted industries.

Gamal El-Din further highlighted the growing international interest in investing in the SCZone, particularly in Qantara West, following the completion of its first development phase, the launch of its first two projects, and the groundbreaking of several others. This reflects global confidence in the investment climate and business performance indicators of the Authority. The total number of projects in Qantara West Industrial Zone has now reached 45, covering a combined area of 2,837,400 square meters, with total investments amounting to $1.1805 billion and generating 62,165 direct job opportunities.

Notably, H&L Korea is one of the world’s leading companies in sportswear manufacturing. Founded in 1988 in Seoul, South Korea, it holds a strategic partnership with Outerstuff, a U.S.-based company specializing in designing and distributing licensed sports apparel for major global leagues such as the NFL, NBA, MLB, NHL, MLS, and NCAA. H&L boasts over 40 years of experience in manufacturing and exporting ready-made garments.