The Korean government said Tuesday it will monitor the situation, as it has yet to receive an official request from Washington, following foreign media reports that the Trump administration is establishing a $300 billion reconstruction fund for Iran and is considering the participation of Korean companies.
The Financial Times reported Monday, citing a senior US official, that the US government is considering creating a $300 billion fund for Iran's reconstruction. The senior official said, "Many companies from Europe, Korea, Japan and elsewhere in Asia, as well as US firms, are showing interest," adding, "Once sanctions are lifted, the fund will be substantial in size, and the amount will be enormous."
According to diplomatic sources Tuesday, the government regards the discussions on the reconstruction fund as factual, but understands that specific participating countries, the fund's size and the method of its creation have not yet been finalized. The government also plans to monitor the situation, as it has not heard about the matter directly from the United States.
While Middle Eastern countries are expected to actively participate in the reconstruction fund for regional stability, it remains uncertain whether participation will be expanded to Asian companies such as those from Korea or Japan. However, the government is reportedly considering a "constructive role" in the reconstruction process for Iran and the Middle East.
Foreign Ministry spokesperson Park Il said at a briefing at the Government Complex Seoul on Tuesday regarding the reconstruction fund, "I think this is a matter being raised within the overall framework of US-Iran negotiations," adding, "For specifics, we need to watch the outcome of the US-Iran negotiations."
Meanwhile, regarding the return of Korean vessels still trapped in the strait, the government plans to continue consultations with the United States and Iran while reviewing the status of mine clearance and available routes after the signing of the US-Iran armistice memorandum of understanding (MOU) on the 19th.
A Foreign Ministry official said, "Based on the information emerging, we estimate that the United States and Iran have agreed to open the Strait of Hormuz without separate transit fees during the 60-day period for additional agreements after signing the armistice MOU."
However, the official explained, "Iran appears to hold the position that it may impose a kind of service fee for safety or environmental reasons after 60 days," adding, "It remains to be seen what new management structure will emerge for the Strait of Hormuz after 60 days, and whether free passage will take place as before."
