[THE INVESTOR] A business center to help local firms expand trade and investment in Iran has been launched following the lifting of international sanctions, the Trade Ministry said Aug. 8.

Located in southern Seoul, the center will provide information and consulting services on trade and investment with Iran, backed by related government agencies including the Korea Trade-Investment Promotion Agency, state-run Woori Bank and the Industrial Bank of Korea, according to the ministry.

“The center will help our companies overcome difficulties in doing business with the Middle East country,” the ministry said in a release. “It will contribute to invigorating the business relationship between South Korea and Iran.”

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