
Korean Register (KR), an IACS member classification society, has signed a Memorandum of Agreement to establish a joint venture company with the Iranian Classification Society (ICS). The company will be called the Iran-Korea Technology Assurance Company, with 50-50 capital investment from KR and ICS and is expected to be fully operational in 2017.
KR established a branch office in Tehran in 2010, but sanctions meant that the society then suspended most of its services. Also to comply with national and international regulations, KR de-listed the Iranian vessels on its register.
In 2016, following the easing of international sanctions, KR started classing Iranian ships again. Iranian vessels are today in the process of being registered with KR, including ships from the Islamic Republic of Iran Shipping Lines (IRISL) and the National Iranian Tanker Company (NITC).
In November 2015, KR signed an MOU with IRISL and ICS, further cementing its strong position with the maritime community in the country, with all parties agreeing to actively cooperate on ship surveys.
A spokesman for the company said: “KR is a respected maritime organisation in Iran and is a preferred provider for many of the local shipping companies. Moving forward, we expect to increase our market share of the Iranian national fleet which is expected to rise due to the newbuild tanker orders resulting from the country’s expanded crude oil production and export.”



















