In time with recent agreements between Iran and South Korea to double the amount of oil sales and exports, Iran’s petrochemical bureau has also been scheduled to reopen in the coming weeks.
Currently, Samsung and LG companies comprise traditional customers of Iran’s petrochemical products and liquid gas as the first shipment of gas condensate produced at South Pars phases has been deployed to Hanwha Total Petrochemicals Company headquartered in Seoul.
Meanwhile, Mehdi Sharifi Niknafas, Managing Director of Iran's Petrochemical Commercial Company (IPCC), has referred to elimination of banking and financial sanctions between the two countries noting “South Korea is a buyer of Iran’s polymer products; however, the export of these products to South Korea is done with caution in order to maintain market in China.”
“Resumption of activities by the petrochemical bureau in Seoul will help increase exports of Iranian products to South Korea,” stressed the official.
In line with the increasing export volume of petrochemical and polymer products to South Korea, the most important venues for boosting bilateral cooperation between Tehran and Seoul in the post sanction era include investment attraction, participation in construction of new petrochemical complexes as well as transfer of technology.
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