San Gui Kim, Head of the South Korea Maritime Institute, has said that the country is ready to invest in Iran’s port and shipping industry, according to the Islamic Republic News Agency.
Kim added that these investments would include building ships, as well as preparing ports so that can become operational.
This follows news that Iran and South Korea had signed a maritime deal worth a total of US$15 billion.
South Korea has also taken interest in Iran’s oil and gas industries.
Iran has recently been in a struggle to increase its oil exports as a result of most of its tankers storing crude.
The country also spoke out over the US allegedly not fulfilling its end of the sanction agreements, despite the majority of the US sanctions said to be kept in place to prevent US citizens from trading with Iran.
The Islamic Republic of Iran Shipping Lines is currently in talks with Hyundai Heavy Industries for a triple container ship order, with each ship’s capacity totalling more than 14,000 TEU.