S Korea in 5bn EUR Iran Financing Deal

By John Lee.

The state-run Export-Import Bank of Korea (KEXIM) has said it plans to sign an agreement with Central Bank of Iran (CBI) during the current quarter to provide up to 5 billion euros in financing for South Korean companies doing business there.

The arrangement will support contracts that South Korean companies win in Iran in sectors including power generation, construction and steel-making.

Seoul hopes that lifting sanctions will create opportunities for South Korean companies to develop trade with Iran.

(Source: IRNA)

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