S Korea eager to invest in Iran’s oil industry

TEHRAN, Oct. 17 (MNA) – S Korea’s OLIT minister met with Iranian Oil Minister Zanganeh, on Tuesday, in Tehran. She told the media that S Korea backs companies wishing to invest in Iran.

“The government of South Korea supports S Korean companies willing to invest in Iran,” said the South Korean Minister of Land, Infrastructure and Transport (MOLIT) Kim Hyun-Mee, on Tuesday, in her meeting with Iranian Oil Minister Bijan Namdar Zanganeh, in Tehran.

Immediately after leaving the hall of her meeting with Iranian oil minister, Ms. Kim Hyun-Mee, told the media, “Korean companies’ participation in the oil industry projects of Iran was discussed in our meeting.”

The S Korean official recounted that Korean companies are eager to take part in the Iranian industries of oil, gas, and petrochemical products. “The negotiations between the CEO’s of Korea Gas Corporation (KOGAS) and Iranian companies’ executives are underway and the MD of KOGAS met with Iranian deputy oil minister earlier in May,” she said.

The KOGAS s national public company founded in 1983 by the South Korean government and it is now one of the big LNG (liquefied natural gas) importers in the world.

The National Iranian Oil Company (NIOC) and KOGAS signed a memorandum of understanding in May, 2016.

YNG/ 4116997

News Code 128737


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