Korean firms sign 7 MOUs to build hospitals in Iran

Korean builders have signed a series of memorandums of understanding to build hospitals in Iran amid widening bilateral cooperation in the health care sector, the health ministry here said Wednesday.

Samsung C&T, Hyundai Engineering & Construction and four other companies signed seven MOUs with Iranian medical schools to build seven medical centers with a combined 6,000 beds in Tehran during a business fair held in the Iranian capital on Saturday and Sunday, according to the Ministry of Health and Welfare.

Iranian flag

The ministry said the deals are expected to be worth $2 billion in total.

Although an MOU does not guarantee a final contract, the companies will be given priority in further negotiations, it added.

The MOUs came after a series of business deals signed earlier in the month during South Korean President Park Geun-hye's visit to the Islamic Republic.

In a summit with Park, Iranian President Hassan Rouhani also expressed his hope to more than quadruple the countries' bilateral trade from $6.1 billion in 2015 to over $30 billion in five years. (Yonhap)