Editor’s Picks 04 May 2016 at 1:22 GMT

South Korea agrees on projects worth billions for post-sanctions Iran

Nikkei Asian Review
South Korea and Iran are set to pursue joint projects involving energy, railways and other infrastructure totalling $37.1bn as part of economic cooperation agreed on between the countries' presidents. “Seoul will re-establish investments and expand bilateral trade to help Iran quickly rebuild its economy and achieve growth,” said President Park Geun-hye following a summit with her counterpart in Tehran. The countries look to bolster their economic activities following the lifting of sanctions on Iran. Park is the first South Korean president to visit Iran since 1962. China's Xi Jinping has already visited Iran, and Japan's Shinzo Abe is mulling a trip this year. South Korea hopes to capture the country's demand for infrastructure first to get a leg up on Japan.
Read full article at Nikkei Asian Review

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