Official: Iran, S. Korea capital markets connected

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Head of Securities and Exchange Organization reported of forming special workgroups to connect Iranian capital markets to South Korean ones saying that this connection will be regarded as a big achievement for Iranian market.

Mohammad Fatanat told IRNA on Monday that Iranian capital market delegation’s recent trip to Seoul aimed at following up the MoU signed between Iran’s Securities and Exchange Organization and Korea Exchange (KRX).

Fatanat reiterated that in order to implement the MoU, especial workgroups were created to provide technical, electronic, settlement and other mutually beneficial grounds.

He added that especial workgroups were also created in South Korea capital market in order toprovide legal and regulatory issues.

Referring to currency exchange as one of the most important issues in connecting both countries’ capital markets, he added that lifting sanctions and the recent MoU signed between Iran and South Korea Economy Ministries would facilitate currency exchange and implementation process of these MoUs.

Regarding South Korea’s annual stock transaction volume which is over $1,200 trillion, he said that being connected with this market would be a big achievement for Iran.

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