South Korean President Park Geun-hye, accompanied by five ministers and a 300-member economic mission, is due to visit Iran in early May, according to director general of International Affairs Office at Korea International Trade Association KITA, Hakhee Jo. “Ten memoranda of understanding are expected to be signed during the trip,” Iran Chamber of Commerce, Industries, Mines and Agriculture’s news service quoted the South Korean official as saying during a meeting with the chamber’s deputy for international affairs in Tehran last week. Park would be the first South Korean president ever to visit Tehran. In late February, Korean Minister of Trade, Industry and Energy Joo Hyung-hwan led 250 delegates from 100 South Korean companies during a two-day visit to Iran and attended the South Korea-Iran Business Forum organized by KITA. During the trip, Tehran and Seoul signed a finance agreement based on which South Korean trade insurance corporation K-Sure pledged to invest up to $5 billion in Iran’s development projects.