Iran: "Rumors of Korean Home Appliance Return Are Not True... No Guidelines Received for Using Frozen Funds"

[Asia Economy Reporter Kim Yuri] The Iranian government dismissed rumors that Korean home appliance companies are returning to Iran, according to local media reports on the 8th (local time).

The Iranian Ministry of Industry, Minerals and Trade stated, "There is no government approval regarding the return of Korean home appliance companies to Iran."

According to local media, recently, as prices rose in Iran, rumors circulated that Korean companies such as Samsung Electronics and LG Electronics would resume sales within Iran. Hossein Tanhai, Chairman of the Iran-Korea Chamber of Commerce, mentioned in June that "frozen funds can be used to import Korean industrial goods, electronic products, production machinery, and technical equipment," suggesting the possibility of trade resumption.

Keyvan Gordan, Director General of the Ministry of Industry, Minerals and Trade, said in a media interview on the same day, "The rumors about the return of Korean companies are fundamentally incorrect," adding, "We can increase the production of Iranian products to lower prices." He also denied receiving any instructions regarding the use of frozen funds in Korea for importing home appliances.

Most Korean companies withdrew from Iran after the US sanctions on Iran in August 2018.

This content was produced with the assistance of AI translation services.