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At a meeting attended by senior Iranian and South Korean officials in the Iranian capital on Monday, Woori Bank officially launched its office in Tehran, becoming the first South Korean commercial bank to start banking activities in the Islamic Republic.
Gholamali Kamyab, the vice governor of the Central Bank of Iran (CBI), made a speech at the event in which he hailed the enhancement of bilateral ties between the two countries, saying Iran and South Korea enjoy deep historical and cultural relations.
He further said that opening the South Korean bank's office in Tehran would pave the way for further improvement of banking cooperation between the two nations.
Referring to Tehran-Seoul relations during the sanctions era, Kamyab said, “Now that the sanctions are lifted off, we need to take bigger steps to develop (mutual) cooperation”.
South Korean President Park Geun-hye on Sunday embarked on her three-day visit to Iran, which is now a crucial business partner for Seoul after the removal of anti-Tehran sanctions.
The sanctions were terminated after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 reached a conclusion over the text of a comprehensive 159-page deal on Tehran’s nuclear program and started implementing it on January 16.
Tasnim News Agency - economy