Future ties at stake as South Korean PM heads to Iran

Billions of dollars of Iranian money continues to be frozen in South Korean banks as its prime minister heads for talks.

Tehran, Iran – The future of diplomatic and financial relations between Iran and South Korea is at stake as Prime Minister Chung Sye-kyun heads to Tehran for three days of talks. South Korea has for years blocked at least $7bn of Iranian money in its banks as it fears falling afoul of harsh economic sanctions the United States started unilaterally imposing on Iran in 2018. The money, mostly yields from exported Iranian oil, is expected to be the central point of talks as Chung is slated to meet First Vice President Es’haq Jahangiri, Parliament Speaker Mohammad Bagher Ghalibaf, supreme leader’s adviser Ali Larijani, and President Hassan Rouhani.