• Daily News
  • Weekly News
  • Special Editions
  • Oil and Gas Events
  • Key Economic Indicators
  • Other Services
Country List
  • Algeria
  • Bahrain
  • Egypt
  • Iran
  • Iraq
  • Kuwait
  • Libya
  • Oman
  • Qatar
  • Saudi Arabia
  • UAE
  • Yemen
  • General News
PAM
  • Project Activity Monitoring
  • Company Activity Monitoring

For Free Headlines Submit Your Email

Login  

Friday, May 9, 2025 23:3 GMT

  • Home
  • About Us
  • Archive
  • Contact Us

News

Iran Urges S. Korea to Resolve Banking Problems, Release Frozen Assets


The persistent problems in financial transactions with South Korea have damaged the trust of Iranian people, President Hassan Rohani said, calling on Seoul to address the banking issues and make it possible for Tehran to use its blocked resources.

South Korea’s new ambassador to Tehran, Yun Kanghyeon, met with Rohani on Tuesday to submit his credentials.

Describing South Korea as a partner in many major projects in Iran with which Tehran maintained close trade and banking ties in the past, the president said such cooperation has been impeded by the US’ illegal and cruel sanctions in recent years.

Despite the promises that South Korea has made to address those problems, the banking and financial troubles are still in place, Rohani deplored, saying Iran cannot even have access to its money held in Korean banks for the purchase of medical and pharmaceutical products, including the coronavirus vaccine.

“Using the financial resources in South Korea’s banks is an obvious right of Iran,” the president stressed, saying the persistent problems in Iran’s financial interaction with South Korea have had a great adverse effect on the trust of Iranians, who have been unable to use their assets held by Korean banks after the outbreak of the pandemic.

For his part, the new ambassador said his country is aware of the Iranian friends’ frustration, adding that the situation has been out of control of Seoul. The envoy said he has a special mission to do his utmost to strengthen the ties with Iran.

Although South Korea is waiting for good results at the conclusion of the talks on the revival of the Joint Comprehensive Plan of Action, it won’t waste the time and is preparing the ground for the promotion of bilateral relations with Iran, Yun added.

Back in February, the Central Bank of Iran said it reached an agreement with South Korea on the release of frozen Iranian assets in the East Asian country. Iran has been pressing South Korea to release between US$6.5 billion and US$9 billion in funds that had been frozen since 2018 when the US imposed its unilateral sanctions on Iran. The release of the funds is believed to enable Tehran to purchase medicine and medical equipment needed to fight the coronavirus pandemic. - Tasnim


published:25/07/2021 04:48 GMT

Related News

  • 40 Korean Exporters to Iran Get US$70 Million in Frozen Money  18/07/2021 04:26 GMT
  • S. Korea, US Hold Talks over Releasing Iran’s Frozen Assets  11/07/2021 05:22 GMT

© 2025 BEDigest. All Rights Reserved.

to read more about this project please go to