An Iranian deputy foreign minister said on Wednesday that the only way Seoul can repair its tainted image among Iranians is to quickly return billions of dollars in funds frozen in South Korea under the US pressure.
South Korean Prime Minister Chung Sye-Kyun is to pay an official visit to Tehran to discuss bilateral issues, particularly the release of billions of dollars of Iranian funds frozen in South Korean banks due to the US sanctions.
Governor of Central Bank of Iran (CBI) Abdolnasser Hemmati said the country expects South Korean banks holding some $7 billion in Iranian funds to pay damages because of their failure in the past two years to release the resources amid constant pressure by the United States.
The foreign minister of Iran said the move by South Korean banks to freeze the Islamic Republic’s assets for the fear of US sanctions is the main obstacle on the way of further expansion of Tehran-Seoul relations, calling on the East Asian state to take swift and necessary actions to settle the issue.
Recent figures show that Iran’s exports of oil to South Korea dropped by almost a half in January after a tanker incident off China’s shores, but the country’s exports to India rose nonetheless by above 50 percent.
South Korea will suspend any further deployment of a controversial US missile defense system until an environmental impact assessment ordered by new President Moon Jae-in is finished, his office said Wednesday.
South Korea said on Friday it was on heightened alert ahead of another important anniversary in North Korea, with a large concentration of military hardware amassed on both sides of the border amid concerns about a new nuclear test by Pyongyang.
South Korea's exports are expected to rise for the sixth straight month in April, according to the trade ministry, as shipments of semiconductors, steel and ships are likely to show double-digit growth this month.
Opponents of South Korea's ousted president, Park Geun-hye rallied in the capital, Seoul, on Saturday to demand that she be arrested, a day after she was thrown out of office over a corruption scandal involving the country's conglomerates.