Korea-Iran bilateral summit results in US$37 bil. worth of biz deals

한-이란 회담으로 37억불의 경제외교 성과 창출 Now... a number of major deals were inked in Iran that are raising the outlook on future business prospects. Shin Se-min gives us an in-depth look into some of those MOUs and the sectors that have huge implications and potentials for both economies. A total of 66 MOUs signed by over two-hundred business delegates,… will potentially translate into some 37-billion U.S. dollars -- marking the largest number of deals to be reached at a single summit,... according to Korea's presidential office. Breathing life back into the Middle Eastern market, that was once inactive due to international sanctions,… Korea is looking to make a foothold in Iran in various fields including the oil, energy, and the construction sectors. Breaking it down,… over twelve-billion U.S. dollars' worth of projects are expected from the major infrastructure projects that includes railways and water dams. One of the first projects that will become operational is the Isfahan-Ahvaz railway project,… worth five-point-three billion dollars... under a provisional contract that'll set up a 541 kilometer-long inland railway. Korea's Land Ministry said the country is also engaging in Iran's water management sector,… where the market size is expected to surge to over four-point-four billion dollars in 2018. Being the world's largest-holder of natural gas,… the most profitable market is the energy reconstruction sector that includes Iran's rich content of natural resources like crude oil. The Bahman oil refinery project, worth 10-billion dollars and the Iran-Oman submerged gas transportation pipeline construction, worth one-and-a-half billion dollars, are among other projects waiting for final signing. After inking a number of deals,… Korea's top office projects that the series of projects clinched through the summit are just the beginning of many more down the line. Shin Se-min, Arirang News. Visit ‘Arirang News’ Official Pages Facebook(NEWS):   / newsarirang   Homepage: http://www.arirang.com Facebook:   / arirangtv   Twitter:   / arirangworld   Instagram:   / arirangworld