The top diplomats of South Korea and Iran have expressed their commitment to developing relations between the two countries in their talks in New York.

According to Seoul’s Foreign Ministry, Minister Park Jin met with his Iranian counterpart Hossein Amir-Abdollahian on Saturday on the sidelines of the 78th United Nations General Assembly.

The two sides reportedly assessed the smooth transfer of Iranian funds held in South Korean banks to a third country and agreed to work together to develop relations between South Korea and Iran after the resolution of the Iranian fund issue.

The top diplomats also agreed to continue high-level communication to promote the development of bilateral relations.

Last week, about six billion dollars in oil revenue funds that had been tied up in South Korean banks were transferred to an Iranian account in a Qatari bank, putting an end to four years of conflicts between Seoul and Tehran over the issue.