S. Korea Launches Support Center for Iran Exports

S. Korea Launches Support Center for Iran Exports

TEHRAN (Tasnim) – South Korea’s finance ministry said on Monday that the East Asian country has opened a business center in Seoul to support local firms’ exports to Iran.

"The Iranian market will be a bonus to the South Korean economy when our companies make good use of it," South Korea's Vice Finance Minister Choi Sang-mok said, Yonhap News Agency reported on Monday.

"The center will help our companies solve difficulties and do business with their Iranian counterparts,” he added.

The support center, backed by related government agencies including the finance and trade ministries, the Korea Trade Insurance Corp. and the Korea Export-Import Bank, will provide information and consulting services on trade and investment with Iran.

The move came a week after the Joint Comprehensive Plan of Action (JCPOA), a lasting nuclear deal between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany), came into force.

Based on the nuclear deal, reached in July 2015, all nuclear-related anti-Iran sanctions have been removed.

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