SEOUL: The South Korean government and corporate officials are visiting Iran this week to hunt out possible deals in the oil, gas and construction industries since an agreement was reached to lift sanctions on Tehran.

Iran is targeting oil and gas projects worth $185 billion by 2020, after reaching a nuclear deal last month with six major world powers, under which sanctions set by the United States, the European Union and the United Nations

are due to be lifted.

The sanctions are unlikely to be removed until next year, however, as the deal requires approval by the United States Congress.