S. Korea Eyes Big Financing Deal with Iran

S. Korea Eyes Big Financing Deal with Iran

TEHRAN (Tasnim) – The Export-Import Bank of Korea (KEXIM) plans to sign an agreement worth 5 billion euros ($5.45 billion) with Central Bank of Iran (CBI), a report said Tuesday.

According to a report carried by Reuters, the South Korean bank said in a statement it seeks to ink the deal during the current quarter to back contracts that the country’s companies win from Iran in sectors including power generation, construction and steel-making.

Seoul hopes to help its companies secure new business opportunities in Iran in the wake of the termination of anti-Tehran sanctions.

The development came after Iranian Foreign Minister Mohammad Javad Zarif and European Union’s Foreign Policy Chief Federica Mogherini on Saturday announced in a joint statement that the implementation of the nuclear deal finalized between Tehran and world powers back in July 2015 has officially been started.

The announcement was made after the International Atomic Energy Agency (IAEA) confirmed Iran’s commitment to the Joint Comprehensive Plan of Action (JCPOA).

Top Economy stories
Top Stories