U.S. and Iranian flags. The countries have reached an agreement to free Americans for jailed Iranians and access to frozen funds in Korea. [REUTERS/YONHAP] Seoul is taking steps to release Iranian funds held in Korea due to U.S. sanctions on Tehran, according to local media reports on Friday. It is part of an agreement reached between the United States and Iran to free Americans in exchange for jailed Iranians and Tehran's access to around $6 billion in frozen funds in Korea. Korea is 'in the process of unfreezing the Iranian assets that have been frozen in Korea' due to the U.

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