Meeting of Relevant Ministries to Review Korea-Iran Economic Issues Held

[Asia Economy Reporter Lim Cheol-young] The Ministry of Foreign Affairs announced on the 7th that it held the "Korea-Iran Economic Issues Review Inter-Ministerial Meeting," chaired by Yoon Kang-hyun, Economic Diplomacy Coordinator, with the participation of the Ministry of Economy and Finance, Financial Services Commission, and Ministry of Trade, Industry and Energy.

The attendees agreed to actively support minimizing damages to Korean companies and ensuring stable continuation of their business activities amid the recent intensifying confrontation between the US and Iran.

Additionally, based on recent consultations with Iran and the US, they decided to continue efforts to resume trade of humanitarian items using the Korea-Iran won settlement account and to resolve issues related to unpaid receivables of Korean companies.

So far, an economic cooperation delegation led by Song Woong-yeop, Director of the Korea International Cooperation Agency, visited Iran, followed by a public-private joint delegation led by Yoon Kang-hyun visiting the US, conducting consultations with both Iran and the US.

An official from the Ministry of Foreign Affairs explained, "We will continue to actively strive to support the safety and sustainable business activities of our companies under an organic cooperation system among related ministries and maintain necessary consultations with relevant countries including the US."

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