1. The Republic of Korea was qualified for an extended exception to US sanctions on Iran outlined in the National Defense Authorization Act (NDAA) for a renewable period of 180 days. US Secretary of State Hillary Clinton made a statement on the extension of exception on December 7, local time.

* The previous exception for the ROK expired on December 7, 180 days from the day it was announced, June 11, 2012.

* The exception was also extended for China, Singapore, India, Turkey, the Republic of South Africa, Malaysia, Sri Lanka and Taiwan.

2. As a result of the extended exception, US sanctions pursuant to the NDAA will not be applied for the next 180 days to the ROK’s financial institutions that are engaged in financial transactions with Iranian financial institution.

° If the requirements of the NDAA continue to be met even after 180 days, the exception can be renewed.

3. The ROK government, as a responsible member of the international community, will take an active part in international efforts to resolve the Iranian nuclear issue in a peaceful manner.

                          Spokesperson and Deputy Minister for Public Relations of MOFAT

* unofficial translation