Code: 796861 A

Secretary General of Iran-South Korea joint chamber of commerce Pouya Firouzi said to ILNA news agency that the banking problem of importers of medicines and medical equipment from South Korea has been resolved.

Speaking to ILNA news agency, he said “Although medicines and foods are exempted from sanctions and consider as humanitarian issue, the disruption of the banking system makes the importing processes difficult and until recently there was virtually nothing happening in this area.”

“Iranian Embassy in South Korea and joint chamber of commerce tried to solve this difficulty and now these problems have been partially resolved and there is no banking and transportation problem in the field of pharmaceutical raw materials and medical equipment.”

Pouya Firouzi added that but unfortunately trade between Iran and Korea has reached its lowest level and imports of home appliance are limited to a few specific pieces. 

He refers to banking problems of Iranian residents in Korea and said “students and Iranian residents can open an accounts at small banks but there are still problems with opening accounts at big famous banks."

According to the latest figures, in the last eight months of 2018, Iranian non-oil exports to South Korea stood at 2.57 billion dollars and that South Korea exported 1.7 billion dollars goods and household appliances to Iran. South Korea is the third economic partner of Iran after China and the UAE.

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Iran-South Korea Iran’s banking problem
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