South Korea said Tuesday it will hold an information session next week to help local businesses make inroads into Iran after the lifting of international sanctions on the Middle Eastern nation.

The Ministry of Foreign Affairs and the Ministry of Trade, Industry and Energy plan to hold a joint session on Aug. 5 to help firms better understand the details of Iran's recent nuclear deal with the U.S. and five other global powers, according to a government press release.

After years of tough negotiations, Iran and the so-called P5+1 -- Britain, France, China, Germany, Russia and the U.S. -- struck a deal on July 14 aimed at curbing Iran's uranium enrichment program in exchange for international sanctions relief.

The sanctions will remain in place until after the International Atomic Energy Agency verifies whether Iran is abiding by the agreement, a process expected to be completed in the first half of next year.

During the session, the government will explain its policy on Iran and its planned revisions to trade and investment guidelines governing business with the Middle Eastern nation.

The government held a similar session in April following the announcement of a tentative deal between Iran and the global powers. (Yonhap)