Ministry of Trade, Industry and Energy and KOTRA Hold Briefing on Export Approval Procedures for Defense and Strategic Materials
Prepared on the 9th to Help Understand the Export Licensing System
The Ministry of Trade, Industry and Energy and the Korea Trade-Investment Promotion Agency (KOTRA) announced on the 10th that they held an "Export Permit Procedure Briefing for Defense and Strategic Materials" on the 9th at KOTRA headquarters in Yeomgok-dong, Seoul, targeting Korean companies exporting defense and strategic materials.
At the export permit procedure briefing for defense and strategic materials hosted by KOTRA, an official from the Defense Acquisition Program Administration is explaining the strategic materials export permit system. Photo by KOTRA
View original imageCompanies designated as defense contractors must follow the permit review procedures step by step, making it crucial to thoroughly understand the regulations. Additionally, strategic materials include dual-use items and technologies that can be used for weapons, so items such as dental milling machines or certain machine tools also require prior export permits. As a result, some items that need to be exported may unexpectedly fall under strategic materials, and if exported without a permit, the company may face administrative sanctions or fines.
This briefing was organized to help companies overcome these difficulties by acquiring prior knowledge. Export permit officers from the Defense Acquisition Program Administration and the Trade Security Management Institute provided practical training by explaining the export permit regulations and real-world application cases for defense and strategic materials. They also delivered information on system-related updates, including changes following the amendment of the Foreign Trade Act.
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Lee Jae-sik, head of KOTRA’s Defense Materials Trade Support Center, stated, "To sustain the momentum of K-Defense exports, government-level support is necessary throughout the export process after contracts are signed." He added, "We will further expand opportunities to guide related regulations and guidelines so that our companies can export defense and strategic materials smoothly and in a timely manner."
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