Yoon nominates former boss to head broadcasting watchdog
Korean students outperform OECD average amid pandemic havoc: data
US rejects NK's 'double standard' claim on Seoul's satellite launch
Over 70,000 teens homeless, urgent support needed: professor
6 outgoing ministers ‘strong candidates’ for general elections: ruling party
Woori Bank, IBK to stop Iran payments due to U.S. sanctionsBy Yonhap
Published : Nov. 2, 2018 - 20:44
Woori Bank and state-run Industrial Bank of Korea are the two main channels of money between South Korean firms and Iran, but they have instructed local firms to complete payments by Sunday, a day before the U.S. sanctions against Iran take effect.
From Nov. 5, the two South Korean banks will stop handling payments from Iran, according to the source.
The U.S. has pressed South Korea and some other countries to halt their oil imports from Iran or face so-called secondary sanctions following the May announcement of its exit from the 2015 nuclear agreement with Iran.
South Korea, one of largest importers of Iranian oil, is seeking sanction waivers. (Yonhap)
Half of young people struggling financially: Seoul
Banks, regulators shift blame for snowballing ELS losses
Drug demand rises over surge in ‘walking pneumonia,’ flu