Efforts are underway to transfer frozen Iranian funds from South Korea after Tehran reached a deal with the United States to release American citizens in exchange for the freeing of Iranian assets. South Korean Foreign Minister Park Jin spoke with his Iranian counterpart, Hossein Amir-Abdollahian, on Monday to discuss the issue. They agreed to expand cooperation between the two countries. The $6 billion Iranian fund, which had been frozen in South Korea, was transferred to Switzerland's central bank in August for eventual exchange and transfer to Iran

. South Korea is actively working to resolve the matter through close communication with relevant nations. The recent phone call between the top diplomats of South Korea and Iran came after reports of an agreement between Iran and the US for the release of American citizens and the unfreezing of Iranian assets. During the conversation, Minister Park emphasized that the frozen funds belonged to the Iranian people and that South Korea was committed to transferring them. He also expressed his country's determination to resolve the issue with the help of other nations.

The frozen funds in question resulted from the 2018 withdrawal of the US from the 2015 Iran nuclear deal. Last month, Iran confirmed a prisoner swap agreement with the US, marking the end of two years of negotiations. Tehran received a guarantee of Washington's commitment to release the approximately $10 billion in blocked funds in South Korea and Iraq. The American prisoners will be freed from Evin Prison as part of an agreement mediated by a third country, contingent upon the transfer of funds to Iranian bank accounts in Qatar. However, the White House has stated that there will be restrictions on how Iran can use the funds. Spokesman John Kirby assured that the US would have full visibility and control over the usage of the funds. This ensures that they are directed and used in a manner consistent with US interests and objectives.