South Korean Foreign Minister Park Jin held phone consultations with Iranian counterpart Hossein Amir-Abdollahian over the handling of Tehran's frozen funds in Seoul, Seoul's foreign ministry said Tuesday.

Park Jin said Seoul was making efforts for the transfer of frozen Tehran funds with a clear understanding that the assets in question belong to the people of Iran. Park added that South Korea was moving forward to resolve the pending issue through close communications with relevant nations, reported YONHAP.

For his part, the Iranian minister emphasized Tehran's strong focus on relations with Asia and expressed his government's wish to enhance ties with South Korea.

During the call, the two ministers also stressed their intention to develop bilateral relations between the two countries.

The comments came after the Iranian Foreign Ministry's announcement in August that it started negotiations to transfer the frozen funds from South Korean banks for several years, confirming that it had obtained sufficient guarantees for the US to fulfill its obligations in this regard.

Source: Qatar News Agency