한-이란 경협 확대시 10년간 수출 845억달러 증가
President Park Geun-hye isn't the only one promoting the economic benefits of newly re-established relations with Iran.
Korea's state-run institute says the economic benefits reaped from tapping into the Middle Eastern country will help earn billions of dollars in trade and create hundreds of thousands of new jobs.
Arirang's Kim Ji-yeon has more.
There's a solid reason why Korea is welcoming Iran with open arms after international sanctions were lifted from the Persian country.
The Korea Economic Research Institute estimates Korean exports to Iran will reach 84-point-5 billion U.S. dollars by 2025.
That is a staggering rise... considering that as of 2009, Korea's exports to Iran amounted to less than 4-point-8-billion dollars a year.
Some of the promising sectors that will flourish from trade with Iran include infrastructure and facility construction, automobiles, petrochemicals, mobile phones and cultural content.
In particular, trade volume in the construction sector is estimated to reach 18-and-a-half-billion dollars... followed by the automobile sector at 17-point-6-billion dollars.
Trade with Iran is also expected to lead to the creation of some 680-thousand new jobs,... with most of them in the construction services sector as new buildings and facilities are stapled to be built in the Middle Eastern nation.
But to make the rosy projections come true, the institute stated that Korea needs to increase its foreign direct investment in Iran,... which nosedived after Seoul joined the bandwagon of imposing international sanctions on Tehran back in 2011.
Kim Ji-yeon, Arirang News.
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