Korea to add 741 more items on exports ban list against Russia, Belarus

A trade official points to Belarus on a status board designating Korea's restrictions on exports of strategic items at the Korean Security Agency of Trade and Industry in Seoul on March 7, 2022. [YONHAP]

Korea decided Friday to tighten export controls against Russia and Belarus by significantly expanding its list of items subject to export restrictions in response to Moscow's invasion of Ukraine, the industry ministry said.

Under the revision to the regulations on trading strategic items, Korea added 741 more items regarding chemical, steel, auto, machinery, quantum computer and other things to the list of items that are banned from shipping to Russia and Belarus, according to the Ministry of Trade, Industry and Energy.

The ministry said it will make a case-by-case review for "exceptional cases" for shipments to the two nations.

The move came as chances are high for those items to be used by importing nations as weapons and for military purposes, though they are not classified as strategic items under Korea's exports control scheme.

The revision — which will take effect following due administrative procedures and the government's issuance of guidelines for exporters — will raise the total number of items on the list to 798 from the current 57 items.

Yonhap