Iran, South Korea Renewing Energy Cooperation

Iranian Energy Minister Hamid Chitchian and his South Korean counterpart in a meeting in Tehran on Tuesday discussed ways to renew and broaden energy cooperation, AVA Diplomatic reports.

“South Korea has the technical know-how and and capabilities in water and electricity. Iran wants to work with its South Korean partners to build and modernize its power plants,” Chitchian said.

He noted that the private sector could also take part in the construction of power plants, electrical equipment, power distribution and networks, renewable energies, and water projects, such as hydro-electric power plants.

In a relevant development last Sunday, Governor of the Central Bank of Iran Valiollah Seif and South Korean Trade Minister Joo Hyung-hwan in a meeting in Tehran discussed banking cooperation.

During the meeting, Seif and Joo underlined the need for broadening of trade and economic ties, specially in banking.

The South Korean trade minister is heading a 300-member trade delegation.

Also last month, South Korean Ambassador to Iran Song Woong-Yeob announced that Seoul and Tehran were resolved to enhance their bilateral ties in different areas.

“There are many capacities in South Korea and Iran for boosting interactions,” the South Korean ambassador said in a meeting with economic activists in Qazvin province, Central Iran.

He noted that the two countries have good banking interactions that have resulted in boosting economic exchanges between Seoul and Tehran.

Song urged the South Korean and Iranian companies to boost their mutual cooperation, and said, “A sum of 2,000 Korean companies have economic relations with Iran at present.”