South Korean Premier to Visit Iran to Discuss Frozen Billions

South Korean Prime Minister Chung Sye-Kyun plans to visit Tehran “soon” to discuss billions of dollars of Iranian funds that are frozen in his country as a result of U.S. sanctions, Iran’s Foreign Ministry Spokesman said.

Saeed Khatibzadeh did not specify the date of Chung’s visit but said it boded well for the two countries whose relationship has been plunged into crisis over some $7 billion of Iranian revenues from oil exports that remain trapped in South Korea.

Officials have linked the dispute to the seizure in January of a South Korean-flagged tanker in the Persian Gulf by the Islamic Revolutionary Guard Corps. The vessel remains in Iran’s custody and berthed at Bandar Abbas port.

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