SEJONG/SEOUL, Jul. 1 (Korea Bizwire) — South Korea’s trade minister said Monday the government plans to file a complaint with the World Trade Organization (WTO) over Japan’s decision to tighten the rules for exports of semiconductor and display materials to Seoul, amid a simmering diplomatic row over wartime force labor. “South Korea has been making [...]
SEOUL, May 7 (Korea Bizwire) — Two South Korean banks have stopped offering settlement services for trade with Iran in line with U.S. economic sanctions on Tehran, industry sources said Tuesday. Last week, Woori Bank and the state-run Industrial Bank of Korea (IBK) suspended won-denominated accounts held by the Central Bank of Iran (CBI) for [...]
SEOUL, Nov. 8 (Korea Bizwire) — The Financial Action Task Force announced it will continue its countermeasures against North Korea during a general meeting in Buenos Aires, Argentina. According to the Financial Services Commission (FSC) on Monday, the FATF has decided to maintain its economic sanctions at the highest level for the seventh consecutive year [...]