Iran-South Korea ink greatest bank deal in post-JCPOA era

The Islamic Republic of Iran signed on Thursday the biggest banking transaction deal with the Export–Import Bank of Korea, also commonly known as the Korea Eximbank (KEXIM) after implementation of the Joint Comprehensive Plan of Action (JCPOA).

The eight-billion-euro deal will be regarded as a significant development in broadening economic cooperation in post-JCPOA era.

The agreement was signed between Deputy Minister of Economic Affairs and Finnance and President of the Organization for Investment, Economic and Technical Assistance of Iran Mohammad Khazaei and Chairman of KEXIM bank Jongku Choi on Thursday.

Based on the deal, both Iranian state-run organizations together with the private sectors can make use of the finance which is regarded as a turning point in Tehran-Seoul relations, he said.

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