The agreement was signed by Ha Yung-ku, chairman of the Korea Federation of Banks, and Kourosh Parvizian, head of Iran's Association of Private Banks, Press TV reported on Friday.
The agreement, between private lenders of Iran and South Korea, mostly envisages the expansion of non-dollar trade between the two countries.
It also calls for the share information on banking affairs, provides banking assistance to importers and exporters, and conducts exchanges of financial training.
Iranian bankers have called for the expansion of euro-based trade between the two countries what it said had been welcomed by South Korean bankers, Xinhua news agency reported.
In late August, Iran secured a $9.6-billion credit line from South Korea's Eximbank as the country's biggest loan deal since the removal of sanctions against it in early 2016.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Doraiah Chowdary Vundavally is a Software engineer at VTech . He is the news editor of SocialNews.XYZ and Freelance writer-contributes Telugu and English Columns on Films, Politics, and Gossips. He is the primary contributor for South Cinema Section of SocialNews.XYZ. His mission is to help to develop SocialNews.XYZ into a News website that has no bias or judgement towards any.
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