By Kim Ji-eun

The Iranian funds that were frozen in Korea due to the financial sanctions on Iran have recently been successfully transferred to a third country through close cooperation among the relevant nations.

Despite the sanctions on Iran, the Korean government has paid Iran’s UN contributions at Iran’s request and has been supplying humanitarian goods needed by Iranians, such as medicine, through humanitarian trade with Iran. 

Furthermore, the Korean government has continued diplomatic communication and discussions with relevant countries to ultimately resolve the frozen funds issue, with the clear understanding that the assets belong to Iranian citizens.

Especially, not only the concerned nations but also third-party nations such as Qatar and Switzerland played a vital role in resolving the frozen funds issue. In that light, the Korean government expresses special appreciation to these countries for their constructive roles.

Even after their transfer to Qatar, the Iranian assets are expected to be used for humanitarian purposes, such as purchasing food and medicine, in a way that is similar to their use in Korea. The Korean government has shared its humanitarian trade experience with Qatar.

The Korean government anticipates that the transfer of the funds will help further develop the bilateral relationship between Korea and Iran in the future.