Iran's Foreign Minister Manouchehr Mottaki said that Iran is ready to mediate between the two Koreas to solve the peninsula crisis and decrease disputes, the official IRNA news agency reported on Sunday. Iran welcomes mutual understanding and agreement between the two (Korean) republics in direction of peace and stability in the Korean peninsula and is ready to do its best in this regard, Mottaki was quoted as saying. He made the remarks in a meeting with the visiting South Korean Deputy Foreign Minister Lee Yong-Jon in Tehran on Saturday. Referring to the bilateral relations between Iran and South Korea, Mottaki said that 'Mutual cooperation has not been balanced in all fields and we hope to be able to make it more balanced.' Mottaki also expressed Iran's readiness to participate in joint projects with South Korea in medical and developmental affairs in Afghanistan, according to the report. For his part, South Korean senior diplomat said that 'we want promotion of ties in all economic fields and implementing joint projects and deepening bilateral cooperation in direction of mutual interests,' IRNA said Earlier this month, Iran's Pars Oil and Gas Company and South Korea's GS Company inked an agreement being worth 1.2 billion U.S. dollars on a gas sweetening project. According to the agreement, the two sides will cooperate in gas sweetening project of Iran's South Pars gas field in Assalouyeh, Bushehr province, where some 3,900 million cubic meters of gas will be sweetened per day. 