Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Woori, Industrial Bank of Korea Halt Bank Tejarat Transactions

Woori Finance Holdings Co.’s banking unit and Industrial Bank of Korea halted transactions with Bank Tejarat as of Jan. 23 following U.S. Treasury Department sanctions against the Iranian Bank, South Korea’s Knowledge Economy Ministry said.

Seoul-based Woori Bank and IBK stopped offering credit and wire transfers of cash after Jan. 23 and the ministry will prepare measures to help local companies that may have difficulties as a result of the Iran trade sanctions, it said in an e-mailed statement today.

The Treasury Department last month targeted Bank Tejarat, Iran’s third-largest bank, for providing financial services to the country’s banks and companies that are under international sanctions for involvement in Iran’s nuclear and missile proliferation. Financial institutions anywhere in the world that do business with the bank risk being cut off themselves from the U.S. financial system.

Woori Bank said it stopped businesses with the Iranian lender via an e-mailed response to a Bloomberg News query. No one at Industrial Bank of Korea was available for comment and it didn’t respond to an e-mail seeking comment.

Asia Economic Daily earlier reported the banks’ move.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.