WASHINGTON – The Republic of Korea’s Minister of Trade, Industry and Energy Moon, Sung Wook and Secretary of Commerce Gina M. Raimondo are pleased to announce the formal addition of the Republic of Korea to the growing global coalition of nations that are standing against Russian aggression by implementing stringent export control policies.
The U.S. Department of Commerce, through its Bureau of Industry and Security (BIS), added the Republic of Korea to the list of countries to receive an exclusion from the license requirements required under the U.S. Russia/Belarus Sanctions rules, including the foreign direct product (FDP) rules for Russia/Belarus. The Republic of Korea joins the member states of the European Union (EU), Japan, Canada, Australia, the United Kingdom, and New Zealand. Providing exclusions to partner countries enhances the multilateral effort to implement strong export controls.
“We, as a proud ally and partner, are pleased to join the global coalition of nations that are standing against Russia’s aggression by implementing stringent export control policies, dedicated to supporting Ukraine in its path towards peace and stability,” said Minister of Trade, Industry and Energy Moon Sung Wook. “Our strong commitment on export controls against Russia as well as the addition of ROK to the list of excluded countries of FDP rules for Russia/Belarus demonstrate ironclad alliance and reciprocal partnership between the ROK and the US.”
“Korea is closely aligned with the U.S. and the global coalition to put export control measures and economic sanctions against Russia’s military aggression,” said Trade Minister Yeo Han-koo. “We welcome Korea’s addition to the list of foreign direct product (FDP) rules exclusion countries for Russia/Belarus and are strongly committed to implementing swift and effective export control measures in partnership with our private sector.”
“We welcome the ROK’s commitment to stand with us against authoritarianism and with the Ukrainian people as they fight to defend the principles and values of democratic self-determination, freedom, and peace,” said Secretary of Commerce Gina M. Raimondo. “This unprecedented multilateral coordination on export controls is an essential component to ensuring our response to Russia’s invasion is swift, severe and successful. I’m proud to accept the ROK’s commitment to that effort.”
“I’m pleased that the Republic of Korea is joining the growing coalition dedicated to standing up to Russia’s aggression,” said Deputy Secretary of Commerce Don Graves. “Our allies and partners are a force multiplier for our export controls, and the ROK’s economic strength and technological leadership is a substantial addition to the coalition working to starve Russia and Belarus’s militaries.”
