The South Korean government said on the 28th that it will join the sanctions against Russia. Currently, South Korean companies exporting products under the Foreign Direct Product Regulation (FDPR) to Russia must obtain prior approval from the U.S. Department of Commerce.

According to BusinessKorea, the FDPR is to prevent products based on U.S. technology and software from being exported without the department's approval. The U.S. Department of Commerce applied the regulations on 24 last month to 57 projects in seven industries including semiconductors, information and communication technology (ICT), sensors and lasers, and aerospace.

A total of 32 countries and territories are excluded from this restriction, including EU member states, Australia, Canada, Japan, New Zealand and the United Kingdom. These countries are imposing sanctions on Russia. South Korea, China, India and Taiwan, which do not impose separate sanctions, are also subject to the FDPR. The South Korean government plans to negotiate with the U.S. this week to free it from restrictions.

Exports in the semiconductor and information and communication technology (ICT) sectors will also be affected due to the slow response of the South Korean government, the report pointed out. Many criticized the government for adding sanctions earlier.

In order to minimize the losses of enterprises, the Korean government decided to negotiate on the above, and said: "We also announced an export ban on strategic materials, and the United States is expected to reclassify." "Despite this regulation, consumer electronics Semiconductor consumer goods such as products, smartphones, and automobiles can be exported to Russia as normal."

However, experts believe that the government's measures came too late and could have a bigger impact on exports. One of the officials explained: "For strategic materials, the application will be more stringent. Given the potential for these materials to be used for military purposes, it is possible that the United States will consider them as strategic materials."