South Korea and Iran held talks in Seoul Thursday on enhancing two-way cooperation in light of international negotiations aimed at curbing Iran’s nuclear program in exchange for sanctions relief.

The annual policy meeting was led by Kwon Hee-seog, director-general of the Africa and Middle East affairs bureau, and his Iranian counterpart, Abdolrassoul Mohajer. After the first few minutes, which were open to media, they went into closed-door talks.

Once the nuclear deal is sealed, Iran will be able access its oil money in banks in Europe and other parts of the world valued at tens of billions of U.S. dollars. Much of that cash is expected to be invested in building infrastructure in the Middle Eastern nation, where South Korean firms could win major construction projects.

South Korea hopes to secure a foothold in the oil-rich nation before the sanctions are lifted, according to a government official who spoke on condition of anonymity.

bbabo.Net