Iranian, South Korean Firms to Trade in Euro Soon

South Korean companies will be able to trade with their Iranian counterparts in the euro currency instead of the local won from as early as September, a report said.

South Korea will start trial run in the new payment system as early as next month before full-fledged service following the removal of anti-Tehran sanctions, Pulse News reported on Monday.

The euro-based payment system is expected to pave the way for Korean businesses to speed up $45.6 billion worth bilateral projects that have been sealed in May during President Park Geun-hye’s visit to Iran.

Korean firms will reportedly start working with Iranian companies in euro upon receiving a green light from Washington.

(Source: Tasnim, under Creative Commons licence)

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