South Korea yet to pay its debt to Iran - Iran-South Korea Joint Chamber of Commerce

Business Materials 26 January 2021 09:32 (UTC +04:00)
South Korea yet to pay its debt to Iran -  Iran-South Korea Joint Chamber of Commerce

BAKU, Azerbaijan, Jan 26


Negotiation continues over Seoul debt payment to Tehran but no practical action has been taken in this regard, said the head of Iran-South Korea joint chamber of commerce.

"South Korea is keen to pay its debt to Iran and in the recent meetings South Korea is seeking to accelerate payment solutions or barter," said Hossein Tanhaee, Trend reports citing IRNA.

"The issue of barter has been discussed from long ago and now Iran's priorities for purchase of medical and food items were announced to South Korea. The other announced commodities that are not under sanctions are basic material and equipment for factories, we hope negotiations would reach an optimal result," he said.

An official in South Korea's Foreign Ministry was quoted in recent weeks that Tehran and Seoul are in negotiation to use Iran's blocked money for the purchase of the coronavirus vaccine.

"Seoul aims to expand cooperation and it is unfortunate that unexpected problems imposed on the relations between the two countries," said South Korea Vice Foreign Minister Choi Jonk Kan during a meeting with Kamal Kharrazi, chairman of Iran Foreign Policy Strategic Council.

"Hopefully by solving current problems, effective steps would be taken for sustainable development of relations and cooperation between the two countries," he said.

Iranian frozen assets at South Korean banks under US sanctions are around $9.2 billion.