Iran-South Korea Relations

Seoul and Tehran are reportedly mulling holding the first working-level meeting this month to resolve issues regarding Iran's assets frozen in South Korean banks due to the 2018 US economic…

South Korea and Iran plan to hold working-level consultations next month in Seoul to discuss ways to untangle yearslong disputes over Tehran's assets frozen here under US sanctions, an informed…

Governor of the Central Bank of Iran Abdolnasser Hemmati says the bank’s foreign exchange policy has been crafted without taking into account billions of assets blocked overseas. 

Iranian assets locked in South Korea will be released after consultations with the United States, the foreign ministry in Seoul said Tuesday, after Iran said it had reached a deal with Seoul on…

Iran and South Korea have reached an agreement on using "a part" of Iran’s foreign currency assets frozen in the Asian country.  The agreement was reached in a meeting between the governor…

South Korean banks wary of US sanctions are holding tight to billions of dollars in Iranian money, apparently unwilling or unable to budge before Joe Biden assumes office as the next president…

The Central Bank of Iran demanded Monday South Korea release billions of its foreign exchange assets blocked in that country.  South Korea’s First Vice Foreign Minister Choi Jong-kun…

South Korea’s First Vice Foreign Minister Choi Jong-kun left for Iran on Sunday to reportedly negotiate the release of the South Korean oil tanker and its crew seized by Iranian authorities last…

Seoul said it will soon dispatch a diplomatic team to Tehran for talks over the seizure of its tanker by Iran over environmental violations. 

Seoul said it will soon dispatch a diplomatic team to Tehran for talks over the seizure of its tanker by Iran over environmental violations. 

South Korea is seeking to sell medicine and medical equipment in lieu of its arrears to Iran blocked in the south eastern country’s banks, head of Iran-South Korea Joint Chamber of Commerce said…

Ambassador of the Republic of Korea to Tehran Ryu Jeong-hyun has explained the mechanisms established by Seoul for conducting humanitarian trade with Iran amid the United States’ sanctions.

Iran is escalating its pressure on South Korea to release billions of dollars of oil-export revenue, arguing that Seoul is buckling to pressure from its US ally and illegally withholding funds…

Industrial Bank of Korea, one of South Korea’s largest banks, will pay $86 million to settle US and New York state criminal and civil charges it allowed an illegal transfer of more than $1…

Exports of pharmaceutical and their raw materials from South Korea to Iran have come to a halt, according to Gholamhossein Mehralian, an official with Iran Food and Drug Administration 

A senior South Korean diplomat, who has been engaged in talks with the United States over Iran sanctions, said Seoul is hopeful that humanitarian trade with Tehran will come back on track in the…

The Seoul Metropolitan Government, widely acclaimed as a success story in implementing e-governance and now a leading force behind promoting the concept of smart city, is eager to join hands…

Heads of the central banks of South Korea and Iran met in Seoul to discuss banking hurdles between the two sides and find workable solutions.  In meetings with South Korean officials, the…

In a meeting with South Korean Ambassador Ryu Jeong-hyun, the governor of the Central Bank of Iran faulted banks in that country for blocking Iranian assets and creating financial difficulties…

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…

Iran traded 5.64 million tons of non-oil commodities worth $4.61 billion with South Korea in the last fiscal year (ended March 20, 2019), registering a 51.05% and 43.03% decline in tonnage and…

Iran traded 4.15 million tons of non-oil commodities worth $3.76 billion with South Korea during the 11 months to Feb. 19, registering a 60.1% and 48.01% decline in tonnage and value…

A top US official discussed this week South Korea’s crude oil imports from Iran and urged Seoul to accelerate its oil supply diversification, S&P Global Platts reported on Thursday, quoting…

South Korea imported no Iranian crude for the fourth straight month in December due to the re-imposition of US sanctions on Tehran, while intakes from the US and Kazakhstan rose sharply as…

A South Korean oil buyer is set to receive about 2 million barrels of Iranian condensate in January, a source familiar with the matter said on Monday.  The cargo marks the first Iranian…