BGF Retail Co., the operator of South Korea's largest convenience store chain CU, said Friday it signed a master franchise deal with an Iranian company marking the first overseas expansion for a convenience store operator.
A consortium of South Korean and Japanese companies signed agreements to fund and implement a chain of condensate refining projects in southern Iran — a project known as the Octopus of the Persian Gulf.
Iran's Minister of Economic Affairs and Finance Ali Tayyebnia met the President of South Korea Export–Import Bank (Kexim) Choi Jong-ku in Seoul to discuss the financing of Iranian construction and infrastructure projects in the energy, petrochemical, oil and health sectors.
South Korea’s newly-elected President Moon Jae-in has suspended a senior defense official for deliberately failing to report the “unauthorized” US deployment of additional missile launchers in the country.
North Korea says it "fully rejects" the fresh wave of sanctions imposed on some of its companies and individuals by the United Nations Security Council, vowing to continue with its nuclear and missile programs without a delay.
Russia and China have once again voiced opposition to the deployment of a US missile system to South Korea, saying the North Korean nuclear program should not be used as a pretext for military build-up on the troubled peninsula.