South Korea ready to invest in Iran’s shipping industry
Tehran, Iran, April 23
By Mehdi Sepahvand - Trend:
South Korea is ready to invest in Iran's port and shipping industry, Chairman of Korea Maritime Institute (KMI) Sang Goi Kim said.
Speaking at an Iranian-South Korean economic convention in Iran, he said, "Iran is highly capable in oil and gas industries and surely we can offer cooperation in building ships, maintaining maritime fleet, and preparing ports," IRNA news agency reported April 23.
He added that his country can also offer help with building dams, water management, and healthcare services.
The South Korean official hoped that his country's investment in the said sectors in Iran might reach $10 billion in five years.
South Korean President Park Geun-hye is scheduled to travel to Iran on May 1 upon invitation by her Iranian counterpart Hassan Rouhani.
In her three-day visit, Geun-hye will be accompanied by a number of ministers and owners of big businesses to discuss cooperation in energy, banking, insurance, infrastructure, health, science, and culture.
South Korea's imports of Iranian crude oil surged 81 percent to reach 244,240 barrels per day in March from the same month a year earlier in the wake of sanctions being lifted targeting Tehran's nuclear program.
In mid-April, South Korea unblocked a large part of Iran's frozen assets belonging to exported petrochemical products to South Korea during the sanctions era.