Baku, Azerbaijan, May 1
By Khalid Kazimov - Trend:
South Korean President Park Geun-hye has arrived in Tehran on a historic visit.
Park Geun-hye is the first South Korean president who visits Iran, IRNA news agency reported.
The South Korean president is heading a large business delegation of over 230 executives during the three-day visit.
The two countries are expected to sign contracts worth $13 to $17 billion for cooperation in various fields including the construction of hospitals, dams, railways and power plants as well as petrochemical, crude oil, infrastructure and industrial projects.
Iran-South Korea trade turnover stood at $6.1 billion in 2015. The figure was $17.4 in 2011, Before Western countries imposed sanctions against Iran.
South Korea is among the largest importers of Iranian oil.