News ID: 231670
Published: 0244 GMT September 21, 2018

South Korean firms to continue cooperation with Iran despite US sanctions

South Korean firms to continue cooperation with Iran despite US sanctions

In his meeting with the Deputy Chairman of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) for International Affairs Mohammadreza Bakhtiari, South Korea’s new Ambassador to the Islamic Republic of Iran Yu Chang Hwang announced the continuation of South Korean companies with Iran despite US pullout from JCPOA.

Given the above issue, South Korean companies did not cut their trade and business cooperation with the Iranian economic enterprises in sanctions period, the ambassador reiterated, reported Mehr News Agency.

Hwang pointed to the issues that have recently been raised in relation to the trade and economic cooperation between the two countries and said, “The fact is that South Korean companies are interested in working in Iran and want to continue their trade and business cooperation with Iran. Of course, the problem of unilateral sanctions imposed by US on Iran should be taken into consideration.”

He denied some claims released by some media outlets on cutting trade and business relationship of Korean firms with Iran as baseless and unfounded, noting that, South Korean companies still continue their trade cooperation with Iran.

Many South Korean companies are heavily dependent on Iranian oil, so that chemical and petrochemical industries based in South Korea will suffer from shortage of Iranian oil, he said.

“We are seeking waivers from US sanctions imposed on Iran in order to continue oil purchase from the Islamic Republic of Iran,” the ambassador maintained.

The ambassador pointed to the Joint Comprehensive Plan of Action and said, “South Korean government will strongly back JCPOA, because, we believe that JCPOA will secure and guarantee peace and security in the region and world in particular.”

He added, “As South Korean ambassador to Iran, I will make my utmost effort to promote trade and economic relationship between Iran and South Korea wholeheartedly.”

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