Iran Foreign Investments South Korea

An Iraqi air raid on a natural gas refinery under construction in Iran killed 13 South Korean workers and injured 37, 14 of them seriously, Foreign Ministry officials announced in Seoul. All of the victims were employees of Daelim Industrial Co., which won a $230-million contract in April, 1984, to build the plant at Kangan, near the Persian Gulf about 500 miles south of Tehran, a company spokesman said.

The overseas construction industry, once called South Korea's "golden goose," is gambling that new markets in Arab and communist nations will help it overcome a long slump. South Korean contractors, unfazed by political and regional differences with their homeland, are looking at postwar reconstruction projects in Iran and Iraq, expanding business in Libya and starting projects in the Soviet Union and other socialist nations.

The overseas construction industry, once called South Korea's "golden goose," is gambling that new markets in Arab and communist nations will help it overcome a long slump. South Korean contractors, unfazed by political and regional differences with their homeland, are looking at postwar reconstruction projects in Iran and Iraq, expanding business in Libya and starting projects in the Soviet Union and other socialist nations.

An Iraqi air raid on a natural gas refinery under construction in Iran killed 13 South Korean workers and injured 37, 14 of them seriously, Foreign Ministry officials announced in Seoul. All of the victims were employees of Daelim Industrial Co., which won a $230-million contract in April, 1984, to build the plant at Kangan, near the Persian Gulf about 500 miles south of Tehran, a company spokesman said.