Beginning from March 26

 

A world map at the Korea Security Agency of Trade and Industry (KOSTI) shows countries subject to the international community's export control and sanctions.

The Ministry of Trade, Industry and Energy announced on March 24 that it would implement export control over 57 non-strategic items and technologies to Russia and Belarus beginning from March 26.

Earlier, the Korean government decided to control exports to Russia at a level similar to the economic sanctions that the United States and the European Union (EU) imposed on Russia following its invasion of Ukraine.

Korean companies that want to export items on the export control list to Russia and Belarus have to pass a separate approval procedure beginning from March 26.

“We will take into consideration the approval standards under Article 22 of the Strategic Material Import and Export Notice, and also refer to the international community’s strengthened review standards,” a Korean government official said with regard to export approval review standards.

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