Ministry of Industry Strengthens Response to Ukraine Crisis...Urgent Inspection of Dedicated Support Channels for Export-Import Companies

Yeo Han-gu, Emergency Inspection of 'KOTRA Trade Investment 24'
All 45 Including 33 Local Dispatched Staff Evacuated

Ukrainian Defense Forces Prepare for Battle in Kyiv Amid Russian Advance
(Kyiv, Reuters = Yonhap News) On the second day of Russia's invasion of Ukraine, February 25 (local time), the Ukrainian National Defense Forces are preparing for battle in central Kyiv in response to the Russian military's advance. 2022.2.25
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[Asia Economy Sejong=Reporter Lee Jun-hyung] The government is strengthening its response system to the Ukraine crisis by urgently inspecting dedicated service desks for export-import companies.

The Ministry of Trade, Industry and Energy announced that Ye Han-gu, the head of the Trade Negotiations Headquarters, conducted an urgent inspection on the 27th at the Korea Trade-Investment Promotion Agency (KOTRA) in Seoul of the export-import companies’ dedicated service desk "Trade Investment 24," which is operated by the "Ukraine Emergency Response Team." This urgent inspection was arranged to check the safety and business status of employees of companies operating in five countries including Ukraine, Russia, Poland, Hungary, and Romania amid Russia’s recent invasion of Ukraine. Director Ye also checked the support status for companies operating locally.

KOTRA’s Trade Investment 24 is an overseas expansion support platform that provides overseas market information. Since the 18th of this month, when tensions around Ukraine escalated, a dedicated service desk for companies operating locally and export companies was opened to receive real-time reports of direct and indirect damages, transaction and immigration disruptions, and other difficulties, and to begin support activities. To strengthen the response system, Trade Investment 24 established communication networks with 15 companies operating in Ukraine including POSCO International, and 151 companies operating in Russia including Hyundai Motor and Samsung Electronics. As of the 25th, 71 difficulties were reported, and 45 have been resolved.

The Ministry’s Trade Cooperation Bureau also announced the evacuation status of companies operating in Ukraine on the same day. According to the Ministry, a total of 45 people, including 33 dispatched employees from 13 local agencies in Ukraine, 10 locally hired employees, and 2 personnel from 2 individual companies, have returned to Korea or evacuated to nearby areas. The Ukrainian Trade Office in Kyiv, headed by Joo Han-il, confirmed the departure of local agency employees and moved to Warsaw, Poland on the 15th of this month, where a temporary trade office was established inside a hotel.

On the 24th, when the possibility of raw material supply disruptions emerged due to the Ukraine crisis, Yeohangoo, Director General for Trade Negotiations at the Ministry of Trade, Industry and Energy, was conversing with participants at the "Meeting to Strengthen Cooperation in Raw Material Supply Chains" held at Lotte Hotel in Jung-gu, Seoul. Ambassadors to Korea from nine resource-rich countries with high mutual dependence on South Korea, including Indonesia, Canada, Brazil, the United Arab Emirates (UAE), Mexico, Vietnam, Malaysia, Chile, and the Philippines, attended the meeting. Photo by Moon Honam munonam@

Park Sang-min, head of POSCO International’s Kyiv trade corporation, said in a video call on the same day, "The Kyiv trade corporation and the grain terminal business located in Mykolaiv are facing difficulties, so we hope the current situation stabilizes," adding, "If the wartime situation prolongs, entry into Ukraine and local management will be necessary, so we hope for support such as exceptional permission for expatriates to use their passports." Joo Han-il, head of the Kyiv trade office, said, "We supported the swift evacuation of local agency expatriates and local businessmen through cooperation with local diplomatic missions and the trade office," and added, "We are currently transmitting real-time local trends and government response measures to the evacuated businesspeople."

Director Ye said, "We are transmitting the difficulties of export-import companies in real time to the Ministry’s 'Real Economy Countermeasures Headquarters' to maintain a joint inter-ministerial response system including logistics and finance," and added, "To alleviate concerns of our companies regarding export controls on Russia and to prepare support measures, we will strengthen information sharing among related ministries, relevant organizations such as the Russia desk within the Strategic Materials Management Institute, and major industry associations."

This content was produced with the assistance of AI translation services.