▲ Ambassador Yoo Jung-hyun and Iranian Central Bank President Hemmati at the meeting at the Korean Embassy


The Iranian government said it would receive 1 billion dollars, or about 1.1 trillion won, of frozen funds in South Korea.



However, the South Korean government showed a reserved position that the issue of frozen funds needs to be discussed with the United States, which is imposing sanctions on Iran.



Iranian government spokesman Ali Ravieri told a press briefing that "they have agreed to free Iranian assets that have been locked out of banks in South Korea due to US sanctions."



Specifically, he said, "I think we can get back a billion dollars in assets from the Iranian central bank."



The specific amount was even mentioned a day after Iran's central bank governor Abdolnaser Hemmati met with Ambassador Yoo Jeong-hyun and agreed to use frozen assets in Korea yesterday.



Earlier, the Iranian government said on its website that both South Korea and Iran had agreed to move frozen assets in Korea to where Iran desired.



In response, the Ministry of Foreign Affairs of the Republic of Korea also said that Iran has agreed to our proposal regarding the use of frozen Iranian won funds.



Foreign Ministry spokesman Choi Young-sam explained, "When the Iranian Ambassador Yoo Jung-hyun and the governor of the Iranian Central Bank were interviewed, the Iranian side had a basic approach to opinions, such as expressing consent to the plan proposed by our side."



However, even if both South Korea and Iran agree on a basic agreement, US approval is essential to lift the frozen funds.



For this reason, the Ministry of Foreign Affairs is saying that no specific amount, such as $1 billion mentioned by an Iranian spokesman, has been set yet, and is continuing discussions with the United States.



It is reported that the Korean government has explained the situation to the US government through diplomatic channels to avoid unnecessary misunderstandings about Iran's announcement on the 23rd.



Diplomatic experts predict whether the US and Iran will restore the nuclear agreement will have a major impact on solving the frozen fund problem.



As the United States is currently facing tighter with Iran to strengthen and extend its nuclear agreement, it is predicted that if it does not get what it wants from Iran, it will be difficult to release the frozen funds.



Currently, the amount of Iranian funds frozen in Korea is estimated at 7 billion dollars, or about 7 trillion won.



Iran opened accounts in Korean won with IBK Industrial Bank and Woori Bank under the name of the Iranian Central Bank in 2010, and received payments for crude oil exports through these accounts.



However, when the U.S. government put Iran's central bank on sanctions lists in 2018, transactions through the account were halted, and the Iranian government has demanded that the frozen funds be lifted.



It is analyzed that Iran's decision to release the remaining personnel except for the captain after capturing the Korean chemical carrier'Korea Chemie' in the waters near Oman on the 4th of last month is also a measure to pressure the lifting of the frozen funds.



(Photo = Capture of Iranian government website, Yonhap News)