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Korea-Iraq partnership off to strong start

Economic and energy cooperation between Korea and Iraq is growing since the two countries concluded a landmark deal in April.

STX Heavy Industries recently signed a deal with the Iraqi Ministry of Electricity to establish 25 diesel power plants in the Middle Eastern country, with a combined capacity of 2,500 megawatts.

Under the agreement, Korea will assist Iraq in carrying out large-scale economic projects, establishing social infrastructure, and developing its economy.

Iraq will work to ensure a stable supply of crude oil and allow Korean companies to gain opportunities in joint oil development projects.

(yoav@heraldcorp.com)
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