Iran, S Korea private sectors urged to expand bilateral ties

Head of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh has stressed that the private sectors of Iran and South Korea can help give a boost to trade ties between the two countries.

News ID: ۸۴۱۶۵۵

11 May 2024

EghtesadOnline: Hassanzadeh made the remarks in a meeting in Tehran with South Korean Ambassador to Iran Kim Jun-pyo, the ICCIMA portal reported.

He highlighted the need for South Korea to ease visa requirements for Iranian economic actors.

The Korean economy has been able to solidify its position in Iranian society with four brands namely Samsung, LG, Daewoo, and Hyundai, Hassanzadeh said.

Noting that unilateral sanctions on Tehran are hindering Iran’s relations with South Korea, he stressed that the Iranian private sector expects the private sector actors of other countries to continue with their trade exchanges with Iran despite the pressure of sanctions.

Iran boasts high potentials in techno-engineering services, building refineries, food industries, construction industry, automotive parts and pharmaceuticals, the Iran Chamber of Commerce president said, urging both Tehran and Seoul to focus on these areas.

He put the volume of trade between Iran and South Korea at $800 million which he believed is far behind the potentials of the two countries.

In the meantime, the Korean ambassador said that the future of relations between the two countries is promising.

He said that although the Korean companies were not present at the Iran Expo 2024, he participated in the event and witnessed the Iranian national capabilities.

Due to the sanctions on Tehran, Korean companies cannot easily do business with Iran, the ambassador said. However, he stressed that increasing the level of exchanges is possible and the mechanisms have to be found. / Mehr