Tehran, Iran, Oct. 18
Trend:
South Korean Ambassador to Tehran Ryu Jeong-hyun said Seoul will benefit from its trade ties with Tehran in the sanctions era as cooperatives are exempted from the bans.
“The US sanctions have influenced our ties with Tehran,” Jeong-hyun said in a meeting with Bahman Abdollahi, the head of the Iran Chamber of Cooperatives, in Tehran on October 17, Mehr news agency reported.
He added, however, that South Korea will benefit from its trade ties with Iran during the sanctions era thanks to the fact that cooperatives are exempted from these bans.
This will give South Korea a very good opportunity, the Korean diplomat said.
“Many European companies are leaving Iran, but Korean firms have declared they will stay in the country,” he said, adding that Korean companies understand how important it is to be present in the Iranian market.
The Korean official also praised the strategic and significant position of Iran in the region, and underlined that relations between Tehran and Seoul are far beyond bilateral trade.
US President Donald Trump in May pulled his country out of the 2015 Iran nuclear deal and announced he would re-impose the anti-Tehran sanctions, which it had lifted under the agreement, in two phases.
The first round of sanctions, which mainly targets Iran's financial, automotive, aviation and metals sectors, was re-imposed in early August. The second round, which will hit the Iranian oil industry and banking relations, is slated for November 4.