The government has not yet received any separate explanations or requests for participation from the U.S. or related countries regarding the proposed 300 billion USD reconstruction fund for Iran, which was reportedly discussed during peace negotiations between the U.S. and Iran, as of Tuesday.
On Monday, the Financial Times (FT) reported that the U.S. and Iran had discussed the creation of a 300 billion USD reconstruction fund and measures to ease sanctions against Iran during peace negotiations. The FT also reported that a senior U.S. official mentioned that companies from Europe, as well as various Asian countries including South Korea and Japan, and American companies were showing interest in this fund.
While government sources, including the Ministry of Foreign Affairs, confirm that discussions about the reconstruction fund did take place, they believe that the exact size of the fund, participating countries, and method of establishment have not yet been finalized.
Notably, some observers suggest that Gulf countries, having recognized the importance of regional stability in light of the recent conflict, may actively participate in creating the reconstruction fund to swiftly address Iran’s instability. This could significantly influence the level of South Korea’s participation.
The government is reportedly considering playing a constructive role in the reconstruction process in the Middle East, including Iran. This stance appears to be motivated by the potential to manage energy supply issues through improved relations with Iran and the economic benefits of participating in reconstruction projects.
Meanwhile, sources indicate that the U.S. and Iran are working on a ceasefire Memorandum of Understanding (MOU) that would allow free passage through the Strait of Hormuz for 60 days without tolls. However, there are concerns that Iran may impose de facto tolls after the 60-day period under the guise of service fees for safety and environmental reasons.
Addressing this issue during a regular briefing, Foreign Ministry spokesperson Park Il emphasized that freedom of safe navigation through the international Strait of Hormuz must be fully guaranteed. He reiterated the government’s fundamental position that no tolls or fees should be imposed.
Following the anticipated signing of the MOU between the U.S. and Iran on June 19, the government plans to comprehensively review the situation regarding mine removal in the Strait of Hormuz and available shipping routes. They will continue discussions with the U.S. and Iran to ensure the safe passage of 24 South Korean vessels currently waiting in the area.