Iran Releases Frozen Assets Worth 9 Trillion Won in South Korean Banks

The Iranian Ministry of Foreign Affairs announced on the 10th (local time) that it is taking measures to release its government-related assets frozen in South Korea.

In a statement on the same day, the Iranian Ministry of Foreign Affairs said, "Our assets have been illegally frozen in South Korean banks for years by the United States," and added, "Iran has received guarantees from the United States regarding its continued commitment to related obligations."

[Image source=Reuters Yonhap News]

The Iranian Ministry of Foreign Affairs also stated through X (formerly Twitter) that "the process of releasing billions of dollars of Iranian assets illegally seized by the United States over the years has begun."

It further explained, "Iran has received guarantees from the United States. The release of several Iranians illegally detained in the United States was also carried out in this context."

Earlier, in accordance with an agreement on prisoner exchange negotiations with the United States, Iran converted five Americans imprisoned in its domestic prisons to house arrest on the same day. It is known that Iran plans to fully release them once its assets frozen in South Korea are unfrozen.

Approximately $7 billion (about 9.2 trillion KRW) in funds are tied up in accounts under the name of the Central Bank of Iran at South Korea's Woori Bank and IBK Industrial Bank.

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