TEHRAN (Fars News) — Ambassador of South Korea to Tehran, Ryu Jong-hyun, stated that his country’s companies would continue their activities in Iran regardless of US sanctions. Ryu delivered a speech at a meeting with the head of the Iranian Chamber of Cooperatives, Bahman Abdollahi in Tehran.

“Many European companies are leaving Iran, but [South] Korean companies have stated that they will remain in Iran”, the ambassador adding that Korean companies understand how important it is to be present in the Iranian market. “Our relations are currently influenced by US sanctions […] but the fact that the cooperatives are exempted from these prohibitions gives South Korea a very good opportunity”, Ryu said.

Last month, Ryu stressed that his country would never reduce its cooperation with Iran in any economic sphere. “South Korean companies will not reconsider their relations with Iran”, he said at a meeting with the deputy head of the Tehran Chamber of Commerce, Industry, Mines and Agriculture Reza Bakhtiari.

The Ambassador also welcomed the strategic position of Iran in the region and stressed that relations between Tehran and Seoul go far beyond the framework of bilateral trade.