May 20, 2026
Korea Embassy Delegation at IKBC – Baghdad
Iraq–Korea Business Council Holds Official Meeting with Delegation from the Embassy of the Republic of Korea in Baghdad
The Iraqi–Korean Business Council (IKBC) held an important official meeting with a delegation from the Embassy of the Republic of Korea at the Council’s headquarters in Baghdad. The meeting was attended by Mr. Ahmed Shaban, Chairman of the Iraqi–Korean Business Council, Board Members of the Council, and Dr. Raed Nizar, Advisor to the Federation of Iraqi Chambers of Commerce. Dr. Uday Mohammed, the Iraqi Commercial Attaché in Seoul and representative of the Council’s Seoul Office, also participated remotely via video conference.
The Korean delegation was headed by First Secretary Ms. Choi Shin Hye and Korean Commercial Attaché Mr. Dong-Joon Cho. During the meeting, both sides discussed prospects for economic, trade, and investment cooperation between Iraq and the Republic of Korea, as well as ways to strengthen partnerships between private sector institutions in both countries.
During the meeting, the Iraqi–Korean Business Council presented its vision and objectives as an institutional economic platform established in accordance with the official mechanisms of the Iraqi Ministry of Trade, with the participation of a distinguished group of representatives from various economic sectors. The Council aims to support Iraqi–Korean economic relations and create a sustainable business environment that contributes to enhancing bilateral cooperation.
In his opening remarks, Mr. Ahmed Shaban emphasized that the Council seeks to build a long-term strategic partnership with the Korean side, based on the historical relations between the two countries. He highlighted the important role that Korean companies can play in supporting development projects and economic reform efforts in Iraq.
The meeting also addressed the volume of trade exchange between Iraq and South Korea, which reached approximately USD 10.5 billion in 2025. In addition, discussions focused on investment opportunities available to Korean companies in Iraq, particularly in the sectors of energy, infrastructure, industry, transportation, healthcare, education, housing, food security, and technology.
Both sides stressed the importance of strengthening institutional cooperation between the Iraqi–Korean Business Council and the Korean Commercial Attaché Office, as well as supporting cooperation with Korean economic institutions, foremost among them the Korea Trade-Investment Promotion Agency (KOTRA). Such cooperation would contribute to facilitating the entry of Korean companies into the Iraqi market and expanding economic and investment partnerships.
The meeting also explored the possibility of signing future Memoranda of Understanding (MoUs) between economic and commercial entities in both countries, activating institutional communication channels, and establishing a roadmap for joint economic cooperation to enhance direct engagement between Iraqi and Korean companies.
Furthermore, discussions highlighted the importance of providing a secure and attractive business environment for Korean companies interested in operating in Iraq. The parties also discussed ways to support commercial agencies, logistics services, supply chains, and joint ventures, while benefiting from Korean expertise in major strategic projects, including the Development Road Project and railway connectivity initiatives.
The meeting further emphasized the importance of organizing joint economic events, including trade exhibitions, economic forums, professional training and qualification programs, and the exchange of trade delegations, all of which would contribute to strengthening economic and cultural relations between the two countries.
Both parties reaffirmed the importance of maintaining ongoing communication and coordination during the coming phase and working toward the further development of Iraqi–Korean economic relations in a manner that serves the mutual interests of both countries.
In closing, Mr. Ahmed Shaban, Chairman of the Iraqi–Korean Business Council, presented a commemorative shield to Ms. Choi Shin Hye, First Secretary of the Embassy of the Republic of Korea, in appreciation of her efforts in supporting and strengthening Iraqi–Korean economic relations and as a reflection of the importance of joint cooperation between the two sides.
