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Iran, South Korea sign water, power MoUs

Business Materials 30 April 2016 16:48 (UTC +04:00)
The Islamic Republic of Iran and South Korea have decided to sign 15 MoUs in the areas of water and power, including electrical.
Iran, South Korea sign water, power MoUs

Tehran, Iran, April 30

By Mehdi Sepahvand - Trend:

The Islamic Republic of Iran and South Korea have decided to sign 15 MoUs in the areas of water and power, including electrical.

The MoUs will be signed by related ministers on both sides at the presence of Iranian and South Korean presidents, said Iranian Minister of Energy Hamid Chitchian, IRNA reported April 30.

Chitchian made the remarks in a meeting with South Koran Minister of Land, Infrastructure and Transport Kang Ho-in in Tehran.

He said the agreements have been drafted based on constant exchange of ideas over the past months.

The MoUs will be signed on April 31 during South Korean President Park Geun-hye's formal visit to Tehran.

Iran-South Korea bilateral trade shrunk to $6.1 billion under sanctions. Iran's export to South Korea in the meantime amounted to $2.3 billion while that of South Korea to Iran reached $3.7 billion.

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