Korea to Allow Transactions with Iran in Service Sector
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The landmark deal on Iran's nuclear program has opened the door for more business transactions
with Korea. Seoul's finance ministry says it will begin
allowing business dealings next week with Iranian companies in more than ten service
sector categories,... including business consulting and automotive design.
The ministry says the move is expected to boost transactions of goods, particularly
in the fields of construction, communcations and automobiles.
Service sector transactions between the two countries have been restricted in recent years
due to international sanctions over Tehran's suspected nuclear development.
The volume of exports between Korea and Iran in the service sector came in at more than
1 billion U.S. dollars in 2009, but shrank to 340-million dollars in 2012.
