Efforts underway to transfer Iran's frozen funds

Park told his Iranian counterpart, Hossein Amir-Abdollahian, in a phone conversation on Monday that involved countries were in close communications to resolve the issue, Reuters reported citing Seoul's foreign ministry statement on Tuesday.

Park and the Iranian foreign minister agreed to expand cooperation between the two countries, it said.

The United States and Iran reached an agreement last month for the release of five US citizens detained in Iran while $6 billion of Iranian assets in South Korea would be unfrozen.

The assets that had been frozen in South Korea were transferred to Switzerland's central bank in August for exchange and transfer to Iran, South Korean media has reported

AMK/PR