South Korea’s Deputy Foreign Minister Kim Hong-kyun plans to visit Iran for a high-level policy consultation meeting later this week, as Seoul steps up efforts to bolster bilateral ties in the wake of the landmark Iranian nuclear deal.

During his stay in Tehran on Friday and Saturday, Kim will hold a policy meeting with Ibrahim Rahimpour, deputy minister for Asia-Pacific affairs at Iran’s Foreign Ministry, to discuss ways to strengthen cooperation, Seoul’s Foreign Ministry said.

Kim also plans to pay a courtesy call on Iran’s Foreign Minister Mohammad Javad Zarif

“During the policy meeting, the two sides plan to discuss bilateral cooperation in political affairs, economy, trade, culture and development,” said the ministry in a press release.

“We expect Kim’s visit this time to contribute to forging an environment favorable to Korean companies seeking to advance into the Iranian market.”

The ministry was hopeful that high-level exchanges between the two governments would increase in the future after the nuclear deal in July between Tehran and the six world powers to curb the Islamic republic’s nuclear activities.

After Seoul participated in the U.S.-led anti-Tehran sanctions, bilateral trade and exchanges decreased sharply, triggering concerns among businessmen that South Korea could lose the market with a population of 80 million.

Two-way trade volume, which stood at around $17.4 billion in 2011, had dipped to $8.6 billion last year. 

By Song Sang-ho (sshluck@heraldcorp.com)