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Gov't Opens Counseling Channel on Russia-related Export Controls

Written: 2022-02-24 15:56:21Updated: 2022-02-24 16:09:33

Gov't Opens Counseling Channel on Russia-related Export Controls

Photo : YONHAP News

The government has launched an exclusive consultative channel to manage export controls related to Russia following the country's invasion of Ukraine.

The trade ministry announced Thursday that the commission, dubbed the “Russia Desk,” has opened at the Korean Security Agency of Trade and Industry.

The desk will provide one-on-one counseling to help Korean businesses determine whether their products are subject to export controls should the U.S. tighten their measures against Russia.

The ministry had initially planned to initiate the channel after U.S.-led sanctions on Russia were finalized, but sped up the process to ensure a preemptive response as tensions over Ukraine quickly escalated.

Companies will receive information and assistance relating to available options and legal analysis. The service is aimed at minimizing corporate damage from the fallout of the Ukraine crisis.

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