South Korean Firms Willing to Shift to Investment in Iran

(FNA)- Iranian Deputy Economy Minister Mohammad Khazayee said South Korean firms and enterprises have voiced their interest to get involved in more long-term trade exchanges with Iran and start investing in Iran's economic projects.

"The South Korean companies have shifted strategy and now want to invest in Iran rather than just engaging in trade exchanges with the country," Khazayee said, addressing Iran-South Korea Trade Conference in Tehran on Wednesday.

The Iranian deputy economy minister reiterated that the advantages of investment in Iran for the South Korean companies would be easy access to the regional markets, energy resources, trained manpower, state-of-the-art knowledge and transportation facilities.

Many South Korean trade and investment companies, head of the South Korean Investment Encouragement Agency and Seoul's Ambassador to Tehran are attending the daylong Iran-South Korea Trade Conference.

Last month, Iranian Deputy Oil Minister Mansour Moazzami stated that several investors from South Korea have voiced their willingness to invest in refineries in Iran's Siraf region in Pars Special Economic and Energy Zone (PSEEZ).

"Foreign investors face no restriction for investment and Chinese and South Korean companies have shown interest to partner in our refinery projects," Moazzami said, addressing a meeting held to study proposals of 54 private sector investors for partnership in the construction of 8 refineries.

The deputy minister did not explain much about the projects, but said the feedstock of the refineries will be supplied from South Pars gas condensates.