Ex-Im Bank signs MOU with Iranian bank

IRAN - The Export-Import Bank of Korea (Ex-Im Bank) has signed a 500-million-dollar deal with the Central Bank of Iran that would facilitate trade between the two countries.

The memorandum of understanding (MOU) outlines that Ex-Im Bank will sign a separate agreement with a state-run financial institution chosen by Iran's central bank, which would permit Korean firms who export or do business with Iranian firms to receive payments immediately.

"Because such agreements have the government or sta