President of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Samad Hassanzadeh has stressed that the private sectors of Iran and South Korea can help give a boost to trade ties between the two countries.
Hassanzadeh made the remarks in a meeting in Tehran on Wednesday with South Korean Ambassador to Iran Kim Jun-pyo.
He highlighted the need for South Korea to ease visa requirements for Iranian economic actors.
The Korean economy has been able to intensify its position in the Iranian society with four brands of Samsung, LG, Daewoo, and Hyundai, Hassanzadeh said.
Noting that arbitrary sanctions on Tehran are hindering Iran’s relations with South Korea, he however stressed that the Iranian private sector expects the private sector actors of other countries to continue with their trade exchanges with Iran despite the pressure of sanctions.
Iran boasts high potentials in techno-engineering services, building refineries, food industries, construction industry, automotive parts and pharmaceuticals, the Iran Chamber of Commerce president said, urging both Tehran and Seoul to focus on these areas.
He put the volume of trade between Iran and South Korea at $800 million which he believed is far behind the potentials of the two countries.
In the meantime, the Korean ambassador said that the future of relations between the two countries is promising.
He said that although the Korean companies were not present in Iran Expo 2024, he participated in the event and witnessed the Iranian national capabilities.
Due to the sanctions on Tehran, the Korean companies cannot easily engage in trade with Iran, the ambassador said, while noting that increasing the level of exchanges is possible and the mechanisms have to be found.