TEHRAN, Jan. 22 (Press Shia Agency) – In a meeting between S. Korea’s ambassador and CEO of Iran’s Social Security Investment Company (Shasta), Iran and S. Korea declared their readiness to expand their ties in all fields.
The participants in the meeting which took place at the South Korean Ambassador’s residence in Tehran included managers of South Korean companies including LG, Samsung, Daewoo, and Hyundai, along with CEO of Iran’s Social Security Investment Company (Shasta) Morteza Lotfi.
Explaining the area of activities and introducing Shasta, Lotfi thanked South Korean Ambassador in Iran Mr. Kim Seung Ho for the meeting and expressed his company’s readiness to cooperate with Koreans in the form of finance, mutual investment and formation of investment funds in Iran and South Korea.
The South Korean ambassador and companies’ managers, for their part, expressed their willingness to work with the large company Shasta, welcoming the expansion of cooperation with Iran.
Shasta was founded in 1986, and it had the initial capital of 20 billion Rials. Today, the company is one of the biggest companies in the Middle East. Currently, Shasta holdings and subsidiary companies have allocated themselves a great portion of production and services in the fields of oil, gas and petrochemical, medicine, cement, ICT, energy, mineral, metallic and nonmetallic industries, according to its website.