Timestamp: 2017-06-13 15:45:22 (GMT+8)
Area: KOREA-ANDIJON, DOMESTIC-INVESTMENT, MIDDLE-EAST-IRAN
Author: Park Si-soo
Last Modified: 2017-06-13 03:06:03 (GMT+4)
Main Point: Korea’s first railway construction project in Iran since the establishment of diplomatic ties in 1962 was virtually canceled due to the Iran nuclear deal crisis. However, after a one-year hiatus, the blueprint for an 82-km railway was signed earlier this year by the Korean Agency for International Cooperation (KEID) and Iran’s Transport Ministry — all teams related to the project were dispatched last month. Despite eased-off financial sanctions, particularly for aviation and auto sectors, the seemingly promising revival breaks layers beneath due to the deep-rooted corruption scandals that have engulfed Iran’s higher-ups.
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