Iranian Minister of Petroleum Bijan Zangeneh said Iran currently exports 100,000 b/d of crude oil to South Korea, adding, "We hope to double the amount." Addressing reporters following a meeting with visiting South Korean Minister of Trade, Industry and Energy Joo Hyung-hwan in Tehran, Zangeneh spoke about the highlights of his meeting with the Korean official. He said Korean contractors have long been active in Irans oil and gas sectors and "there are numerous grounds for cooperation with South Korea and Korean companies can take shares of Iranian market as contractors." The Iranian official said sale of crude oil was one of the topics discussed during the meeting, adding that Korean officials have promised to raise their crude oil and gas condensate purchases from Iran by the end of the 2016 to a level higher than that before the sanctions. "During the meeting, we suggested that Korean companies, besides remaining engaged in Iran as contractors, could start direct investments and finance projects in the country including investing LNG, petrochemical, refinery and distribution projects," he added. "Iran views South Korea as an important Asian country which can be a good customer for Iranian oil and LNG," he added.