President Park seeks visit to Iran in 1st half

President Park Geun-hye will visit Iran, which is embracing economic boom after lifting of international sanctions that followed the conclusion of nuclear talks. If her visit is made, she will be the first Korean head of state to visit the Middle Eastern country. Her move is apparently aimed at supporting Korean companies that are joining the "Iran Rush" bandwagon, and finding a solution to the North Korean nuclear issue.

When asked about President Park’s visit to Iran in a press briefing on Wednesday, presidential spokesman Chung Yeon-guk said, “I understand her visit is being considered.” Chung stopped short of identifying a specific timeline, but the presidential office is reportedly reviewing a plan to schedule her visit to Iran during the first half of this year. The office will finalize the timing of the president’s visit to Iran after comprehensively considering Korea’s relations with Sunni Islam countries, including Saudi Arabia, a Shiite state that is hostile to Iran, and Japanese Prime Minister Shinzo Abe’s schedule to visit the Middle Eastern country.

Since Iran plans to invest up to 145 billion U.S. dollars in repair, maintenance and construction of oil facilities, Korean construction companies are expecting special business boom in the country. Trade, Industry and Energy Minister Joo Hyung-hwan will visit Iran in late February and hold a joint ministerial economic committee meeting. If a summit meeting also takes place and helps expand Korean companies’ advance into the Iranian market, it will also stimulate the Korean economy that is struggling amid deteriorating external economic conditions.

Given that Iran is considered an "exemplary case" of a country that has solved a nuclear issue and rejoined the international community, South Korea and Iran will also have an opportunity to discuss ways to resolve the North Korean nuclear issue.