A memorandum of understanding on electronic trade and joint investments in hypermarkets and small chain stores was signed between South Korea’s largest retailer Emart and Iran’s Refah Chain Stores Company on Wednesday. “Among the aims pursued is developing production of Korean items in Iran with a focus on technology transfer and raising the quality of domestic products,” ISNA quoted Refah’s CEO, Farshid Golzadeh Kermani, as saying. According to Golzadeh, the two sides plan to invest in joint-brand hypermarkets and stores. The size of investment has yet to be disclosed.
