Oct 8, 2019, 8:07 PM
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News Code: 83509131
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S. Korea says Iran important trading partner

Tabriz, Oct 8, IRNA - South Korea's ambassador to Tehran underscored that the Islamic Republic of Iran is a major business and economic partner for his government and private sector activists.

In a meeting with the head and members of the Tabriz Chamber of Commerce, Yu Jang Hian said on Tuesday that the commercial and economic ties between Iran and South Korea have always had special credibility and characteristics, and the people of both countries have honored these relationships.

The diplomat referred to Iran's help to South Korea during 1970s oil crisis that engulfed the entire world, noting that in those difficult years, Iran fulfilled its obligations to Seoul and, contrary to the Arab states of the region, continues to do so and continues to export oil to South Korea.

During Iran-Iraq war, despite some toughening, South Korea was one of Iran's major trading and economic partners, and many of our companies were active in Iran, Hian stated.

The high-ranking official pointed to many problems in the face of Iran's and South Korea's trade after the US sanctions imposed in recent years, saying that he has a mission as much as possible to deal with the Iranian side's problems and report back to the capital. My country and the consultation with the private sector reduce the problems that can be met through mutual cooperation.

South Korea's ambassador expressed his regret that the volume of trade exchanges between Tehran and Seoul has decreased to $7 billion and expressed that by 2011, the volume of trade exchanges between Tehran and Seoul had exceeded $20 billion per year.

He said that the decline in trade exchanges between South Korea and Iran is detrimental for both sides, and went on to say that until a few years ago over 2,000 South Korean companies had business, economic activities, and services and out of these companies, 8% of them were small companies that the sanctions caused many of them to leave Iran.

However, the South Korean government is trying to reduce as much as possible the economic problems and improve bank transactions with Iran to the extent possible, but as an ambassador, he cannot give promises on the behalf of private companies to Iranian economic activists in this area.

Although sanctions have overshadowed Iran's trade relations with other countries and created problems for Tehran, there are still tough conditions for other countries, he added.

South Korea's ambassador to Tehran said that although some South Korean companies have left Iran, some companies have continued to operate in Iran, despite the reduction in their staff.

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