South Korea Calls for Expansion of Trade Ties with Iran

South Korean Ambassador to Tehran Sung Wung Yeub said his country plans to launch production plants in Iran to manufacture various goods and products, including cars and home appliances, AVA Diplomatic reports.Sung Wung Yeub in a meeting with Head of Iran’s Trade Promotion Organization (TPO) Valiollah Afkhamirad said his country plans to launch production plants in Iran to manufacture various goods and products, including cars and home appliances.

Explaining the advantages of the start of Korean assembly lines in Iran, the envoy said, “In case production lines of South Korean factories are transferred to Iran, we can export our products to Iran’s neighboring countries and Europe under better conditions.”

He underlined that South Korean companies are gradually expanding their cooperation with Iran due to the good agreement between Iran and the Group 5+1 (the five permanent UN Security Council members plus Germany).

Afkhamirad, for his part, said that Iranians believe South Korean goods have good quality and Koreans can seize the current opportunity created by the Iran-G5+1 interim agreement and launch production lines of quality cars and home appliances to pave the way for the transfer of their manufacturing technology to Iran.

He noted that the investment law in Iran’s special economic and free zones has been eased for the foreigners, and offered that South Koreans can have easier cooperation with Iran through these zones.