Banking Handicap Undermines Trade With South Korea

Despite the South Korean government’s interest in maintaining normal trade ties with Iran, banks in that country refuse to process Iranian transactions, the general secretary of Iran-Korea Chamber of Commerce said Monday. 
“South Korea’s ambassador to Iran has announced willingness to maintain trade ties with Iran, but in practice nothing has happened,” Pouya Firoozi told IRNA. 
“At times the government in Soul tried direct intervention but to no avail as Korean banks consider the interest of their shareholders and refuse to transfer money” to or from Iran, he complained.