TEHRAN (ISNA)- Iran and South Korea plan to sign a 5 billion-euro agreement.

The initial agreement is in line with Iran’s future cooperation with South Korea which would be signed by Iranian Deputy Minister of Economy and Finance Khazaie and managing director of South Korean state insurance company.

Iran plans to introduce its industrial plans to South Korea via the agreement and they would implement the plans after sending equipment.

The agreement does not involve exporting products to Iran for consumption.

The Korean company plans to provide financial facilities up to 5 billion euros and guarantees their refund.

By ISNA