Eautoexport February 26, 2024

Starting this week, South Korea is set to enforce stricter export measures against Russia and Belarus by expanding its restricted export list to include around 700 additional products, such as batteries and large vehicles, as a reaction to Russia’s incursion into Ukraine, according to an announcement from the industry ministry on Tuesday.

The government has updated its trade regulations regarding strategic goods to include 682 products that are either used or can be used for military purposes, to be prohibited from export to Russia and Belarus, as stated by the Ministry of Trade, Industry, and Energy.

With this update, the total count of restricted items will reach 1,159, encompassing items like heavy-duty construction machinery, rechargeable batteries, parts for aircraft, and other types of equipment.

This amendment is scheduled to be effective from Saturday.

Additionally, the revised list includes previously owned vehicles with engine capacities of 2,000 cc or more, a category that has been a significant part of South Korea’s car exports to Russia.

In principle, exporting these listed items to the mentioned countries will be prohibited, though the South Korean government will consider exceptions on an individual basis. These items are not listed as strategic under South Korea’s export control regulations.

An official from the ministry highlighted that this move is in alignment with global efforts, emphasizing that the government will intensify efforts to prevent illegal trading activities.

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