South Korea and Iran agreed Monday to promote partnerships in science and technology, riding on President Park Geun-hye's landmark visit to Tehran.
The Ministry of Science, ICT and Future Planning here said it signed a memorandum of understanding (MOU) with Iran's Ministry of Science Research and Technology on "various research cooperation" in both the basic and applied science fields.
The two sides plan to launch a joint science-technology committee next year to discussion the details, it added.
The ministry will also update an MOU with Iran's Ministry of Information and Communications Technology for closer ties.
South Korea signed the accord with Iran in 1990 before joining international sanctions against Tehran for its nuclear program.
"In the ICT sector, in particular, Iran was South Korea's key cooperation partner in the region before the economic sanctions," South Korea's ICT Minister Choi Yang-hee said.
The ministry will try to actively use Park's trip as an opportunity for South Korean advanced technology and ICT firms to tap into Iran, he added.
Iran's ICT market was valued at US$17.9 billion in 2014 and it's expected to grow to $29.8 billion in 2020.
The Electronics and Telecommunications Research Institute of South Korea inked a separate accord with TEM Invest Co., a top Iranian firm specializing in ICT investment, on strategic partnerships.
The Korea Research Institute of Bioscience and Biotechnology also agreed to push for joint research projects with the University of Tehran.
South Korea's major mobile carriers such as KT Corp. and SK Telecom Co are also seeking to strengthen cooperation with their local peers on mobile phone and broadband services. (Yonhap)
