The MoUs were signed during the fourth meeting themed ‘Exchanging Technology; Pivot of Iran and South Korea Small and Medium Corporations’ which was attended by eight foreign and 50 Iranian corporations involved in different fields, including production of heating and cooling insulations, solar panels, renewable energies, lithium batteries and electric engines.
The signing ceremony was attended by managing director of Iran's Small Industries and Industrial Townships, Sadeq Najafi and South Korean economic consultant in Tehran.
Najafi said that commissioning exchange centers among different countries is a good experience and South Korea’s pick was also smart.
“Today, South Korea has turned into one of the world’s 20 big economies in light of small and medium corporations,” he said, noting that Iranian corporations should make optimal use of their experiences.
Iran should be rescued from mono-product economy through promoting small and medium industries, Najafi said.
Some 16 cooperation memoranda of understanding were signed between the Iranian and South Korean private sectors’ companies last April.
This is while ten other cooperation MoUs were signed during the second meeting on transfer of technology by 40 Iranian and nine South Korean small and medium industrial corporations in the field of tool manufacturing, fisheries, sea environment, beekeeping, biological fertilizers and oil and gas.
After the implementation of the Joint Comprehensive Plan of Action, South Korea voiced its banks’ readiness to allocate finance and credit lines for the Iranian projects.
South Korea is among the top five countries which have trade exchanges with Iran both in imports and exports.