Trade minister Yeo Han-koo pledged to seek a swift agreement with the U.S. for an exemption from Washington's expanded sanctions on Russia, seeking to minimize their adverse impact on domestic businesses and the economy at-large.

Speaking to Yonhap News Agency while on a visit to Mexico on Tuesday, Yeo said he plans to secure the exemption after highlighting Seoul's decision to participate in an international move to sanction Moscow, citing its joining in export curbs.

Last week, the U.S. announced an expansion of its Foreign Direct Product Rule(FDPR) for all of Russia over its invasion of Ukraine, requiring non-American firms manufacturing products that use U.S. technology to seek U.S. approval before exporting to Russia.

The U.S. exempted 27 European Union(EU) member states, Britain, Australia, New Zealand, Canada and Japan, all of which have imposed unilateral sanctions on Russia. 

South Korea was not among them. The FDPR is expected to affect major local exporters, including global chipmakers Samsung Electronics and SK hynix.

Amid criticism over the government's delayed participation in global sanctions, the minister said the alliance with the U.S., the security situation on the Korean Peninsula and other national interests are being taken to account.

Yeo is scheduled to depart for the U.S. on Wednesday, where he will hold high-level meetings with senior officials from the Commerce Department and the Office of the United States Trade Representative.