Triangular cooperation with Iran, a neighboring country of Turkmenistan, could help establish a broader cooperative basis, on which diverse projects could be promoted between the three countries. Iran is an emerging country with a large domestic market, blessed with affluent natural resources including oil and natural gas. Moreover, investment opportunities in Iran are increasing after the international communitys sanctions on Iran were lifted in 2015. Triangular cooperation cannot be the solution to all the limitations of the bilateral relations, but could be a channel to make more diversified cooperation possible. Korea can also suggest a shared growth and long-term partnership through the promotion of trilateral cooperation. In particular, triangular cooperation or multilateral cooperation could contribute to the identification and realization of the business potential in the Middle East and Central Asia.