The 5th Iran-South Korea Economic Cooperation Forum dubbed as "Economy and Industry of Iran is underway in the South Korean capital with the aim of broadening trade and commercial cooperation between the two countries, South Korea's media reported.
The Iranian delegation to Seoul is headed by Chairman of Commercial Study and Research Institute of the Industry Ministry Mohammad Reza Razavi.
Iran's Ambassador to South Korea Hassan Taherian in a speech addressing the inauguration ceremony reminded the importance of strengthening economic cooperation, specially in post-JCPOA era between Iranian and South Korean companies, specially in the fields of investment and technology transfer.
He also pointed to strengthening international interactions, and said that such interactions will play effective role in accelerating economic development and growth speed.
Razavi, for his part, said that Iran's strategic capabilities are in direction of strengthening internal and regional security and economic development.
He reminded that economic movement, access to high growth rate, job creation, investment security either domestic or foreign is among axes, which the 12th government of Iran is paying attention to.
Ina relevant development in early August, South Korea’s SK Engineering and Construction Co (SKEC) signed a 1.6-billion-euro agreement with Iran to upgrade the country's Tabriz Oil Refining Company.
South Korean National Assembly Speaker Chung Sye-kyun, who attended President Hassan Rouhani’s swearing-in ceremony, oversaw the signing between SKEC, Tabriz Oil Refining Company and National Iranian Oil Engineering and Construction Company (NIOEC).
The purpose of the signing of the agreement, which is about to be signed into a contract in the near future, is to convert the furnace oil produced at the Tabriz refinery to products of higher value according to Euro 5 standard.
Export-Import Bank of Korea will finance the project which includes upgrades to desulfurization equipment as well as gasoline, diesel and other facilities.
The Tabriz oil processing plant, built in 1976, is among the Iranian refineries which are in dire need of upgrade and modernization.
