South Korea and US Joint Statement on Russia Sanctions... South Korea Confirmed as FDPR Exemption Country (Update)

US: "Maximizing Export Controls with South Korea's Participation... Will Weaken Russia's Combat Power"

Ye Han-gu, Chief Negotiator for Trade, Meets with U.S. Deputy Secretary of Commerce
(Seoul=Yonhap News) Ye Han-gu, Chief Negotiator for Trade at the Ministry of Trade, Industry and Energy (right), is meeting with Don Graves, U.S. Deputy Secretary of Commerce, in Washington D.C. on the 3rd (local time) to discuss Korea-U.S. export controls against Russia. March 4, 2022
[Provided by the Ministry of Trade, Industry and Energy. Redistribution and DB reproduction prohibited]
photo@yna.co.kr
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[Asia Economy Sejong=Reporter Lee Junhyung] The United States has finalized a plan to include South Korea as an exempt country under the Foreign Direct Product Rule (FDPR).

The Ministry of Trade, Industry and Energy announced on the 8th that it had issued a joint statement with the U.S. Department of Commerce regarding participation in export controls on Russia, confirming South Korea's inclusion as an FDPR exempt country for Russia and Belarus. The ministry plans to notify the strategic goods management system of the 57 export control items sent by the U.S. starting today.

The FDPR is a measure that prohibits exports if products are produced using U.S. technology or software (SW), even if they are made in a third country outside the U.S. It was previously used by former U.S. President Donald Trump to pressure China's Huawei.

In the joint statement, the Ministry of Trade, Industry and Energy and the U.S. Department of Commerce said, "The Bureau of Industry and Security (BIS) of the U.S. Department of Commerce has added the Republic of Korea to the list of FDPR exempt countries under the U.S. sanctions rules on Russia and Belarus," adding, "This exemption for partner countries strengthens multilateral efforts to enforce robust export controls."

U.S. Secretary of Commerce Gina Raimondo said on the same day, "The unprecedented multilateral export control coalition is a powerful element that ensures we can respond swiftly, harshly, and successfully to Russia's invasion," and added, "We are proud of South Korea's commitment to these efforts." Don Graves, U.S. Deputy Secretary of Commerce, said, "The participation of our allies and partner countries can maximize the effectiveness of export controls against Russia," and noted, "South Korea's involvement, with its economic power and advanced technology leadership, will substantially contribute to weakening the combat capabilities of Russia and Belarus."

Moon Seung-wook, Minister of Trade, Industry and Energy, said, "As an ally, South Korea will strengthen export controls on Russia and participate in the international community's efforts to peacefully resolve the Ukraine crisis," and added, "This decision by the United States demonstrates the strong alliance and mutually beneficial partnership between South Korea and the U.S."

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