South Korean president arrives in Iran for talks on ties

South Korean President Park Geun-hye arrived in Iran's capital Tehran on Sunday for talks on bilateral ties and economic cooperation.

During her three-day visit, Park will meet with Iranian President Hassan Rouhani and a number of senior Iranian officials to discuss, beside bilateral ties, regional and international issues.

Tehran and Seoul will sign a number of memorandums of understanding (MoUs) that touches the fields of energy and telecommunications, to enhance their cooperation.

Iranian Oil Minister Bijan Namdar Zangeneh said Iran's oil exports to South Korea has risen to 400,000 barrels per day (bpd), from 100,000 bpd at the end of last year, thanks to the removal of western sanctions against Tehran's energy sector earlier this year, according to Petro Energy Information Network (SHANA).

Iran is still facing banking problems for the transfer of its cash from South Korea, but the two countries are working together to solve the problem, Zangeneh said after a meeting with visiting South Korean Minister of Land, Infrastructure and Transport Kang Ho-in.

According to Press TV, the two countries are expected to seal deals worth 10 billion U.S. dollars during Park visit to Iran.

Source: XINHUA