Iranian, South Korean SMEs Sign 10 MoUs for Tech Transfer

South Korean and Iranian private sector companies signed 10 memoranda of understanding on technology transfer on Sunday.

The agreements were signed in Tehran during the second meeting of Iran-South Korea Small and Medium-Sized Enterprises Technology Matching Conference, which brought together 40 Iranian industrial SMEs and nine Korean companies active in a wide range of fields mainly including auto parts manufacturing, fishing industry and marine environment, apiculture, bio-fertilizer, casting, oil and gas, Iran Small Industries and Industrial Parks Organization website reported, 

South Korea is one of Iran’s top five trading partners. Iran exported $2.87 billion worth of goods and imported $3.46 billion to and from the Asian country in the last Iranian year (March 2016-17), the Islamic Republic of Iran Customs Administration reported.

South Korea imports 6.5% of Iran’s total non-oil exports. 

Back in April, private companies of the two countries signed 16 MoUs for transferring technology during Iranian delegation's travel to South Korea.