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Iran

Park was close friends with the last Shah of Iran, Mohammad Reza Pahlavi, who had established diplomatic relations in 1962 and following a visit to Iran in 1969, developed a close relationship with the two countries. Park realized the importance of Iran in securing oil for South Korea's industrial development and by 1973, was their main and only source of oil during the Oil Crisis. Most refineries in South Korea were built to process Iranian crude and thousands of engineers and workers were sent to Iran to help develop their refining capability.

The relationship eventually expanded beyond oil as Park promoted other industries to operate in Iran. Many Chaebol's went to Iran, including Hyundai Engineering & Construction, whose first Middle East Project were a series of shipyards in Bandar Abbas and Chahbahar to help develop Iran's maritime industry. Park's favorite architect Kim Swoo-Geun and his office designed the Ekbatan Complex in Tehran and the South Korean Special Forces helped train the Imperial Iranian Navy Commandos.

Park invited the Shah in 1978 for a special "South Korea-Iran" summit to further deepen relations but due to the Iranian Revolution, it never materialized.In preparation for that summit, Tehran and Seoul became sister cities and the two exchanged street names as well; Teheran-ro in Gangnam and Seoul Street in Tehran which both still remain.