Seoul Preparing to Unblock Part of Iran Money
IRAN NEWS ECONOMIC DESK
TEHRAN – Head of Iran-South Korea Chamber of Commerce Hossein Tanhaei says South Koreans are interested in restoring ties with Iran after Iran warned them of taking legal action and currently Koreans are seriously pursuing the issue of unblocking Iran’s frozen money in South Korean banks.
Speaking to ILNA, Tanhaei talked about the latest development on Iran’s frozen money in South Korea and said after talks with head of South Korea’s Chamber of Commerce, the Korean official said that they are preparing a contract for unblocking some part of the money hygienic and medical goods.
He added that although during the early talks it was decided that medical items worth of $50m were sent to Iran, it did not happen and the medical items worth of $3m sent to Iran.
Tanhaei added that he informed the South Korean official of Iran’s decision to take legal action against them and it seems that Koreans are now more serious to settle the issue.
He noted that Iran’s Central Bank is to lodge a complaint against South Korea but some believe that Iran should wait till the U.S. presidential election but with this decision, the country would fall behind in its activities.
On Tuesday, Iranian and South Korean officials had a virtual meeting. After the meeting South Korean Finance Ministry in a statement said that it would continue talks with the South Korean companies dealing with Iran to continue their cooperation in order that both countries could have close cooperation in health and medical items.
Iran’s blocked money in the South Korean banks is estimated to be around $8b.
