South Korean President Park Geun-hye will visit Iran in May to sign three Memorandums of Understanding (MoUs) on energy domain, an official with Iranian Ministry of Petroleum said on Sunday.
Enhanced oil recovery, technological investments and investment in construction of Iran gas trunklines 9 and 11 (IGAT 9 and 11) as well as petrochemical cooperation will be considered by the two sides through the agreements, she said.
Tehran-Seoul trade balance was over $4.1b in 2013 of which $360m accounted for Iran’s exports to South Korea and the rest ($3.8b) accounted for South Korean exports to Iran.
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