National Iran Gas Exports Company and the Korean Gas Corporation signed a memorandum of understanding (MoU) here on Sunday to cooperate in energy sector, according to Petro Energy Information Network.
Under the deal, Iran will export liquefied natural gas to South Korea, and the two countries will cooperate on exchanging related experiences in the gas industry.
The agreement is signed concurrent with the arrival of the South Korean President Park Geun-hye in Iran's capital Tehran on Sunday.
Park's visit is aimed at the talks on bilateral ties and economic cooperation as well as regional and international issues.
During her three-day visit, Park will meet with Iranian President Hassan Rouhani and a number of senior Iranian officials to discuss topics of mutual interest.
Tehran and Seoul will sign a number of MoUs that touches the fields of energy and telecommunications, to enhance their cooperation.