Abdolreza Zorofchian , chairman of Iranian steelmaker PKP, signs a memorandum of agreement with POSCO executive vice president Lee Hoo-geun and POSCO E&C executive vice president Kim Dong-chul on Monday in Tehran for a 1.6 million ton-integrated steel mill construction project. POSCO Korean administrators rushed to Iran over the weekend to resume the Korea-Iran Joint Economic Committee meeting after a decade, with the business delegation hoping to reap economic benefits from the end of U.S. sanctions against Iran.