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Russia’s Retaliatory Financial Measures Likely to Deal Blow to S. Korean Businesses

Russia’s Retaliatory Financial Measures Likely to Deal Blow to S. Korean Businesses

SEOUL, March 8 (Korea Bizwire) — South Korean companies with business ties with Russia will likely be hit by Moscow’s retaliatory moves to allow Russian companies to make payments to foreign creditors in the Russian currency. Moscow announced a list of a few dozens of “unfriendly” nations on Monday, including South Korea, the United States, [...]

Colliers Discontinues Operations in Russia and Belarus

Colliers Discontinues Operations in Russia and Belarus

TORONTO, March 7 (Korea Bizwire) — Colliers stands with the people of Ukraine, an independent country, and strongly condemns the invasion by the Russian military. These actions are indefensible and in complete contrast to the principles of democracy and freedom. We fully support all appropriate sanctions enacted by the international community and, in response to [...]

S. Korea to Suspend Transactions with Russia’s Central Bank, Sovereign Funds

S. Korea to Suspend Transactions with Russia’s Central Bank, Sovereign Funds

SEOUL, March 7 (Korea Bizwire) — South Korea said Monday it plans to suspend transactions with Russia’s central bank, sovereign wealth funds and another Russian lender as it has joined the global move to impose more financial sanctions against Moscow over its invasion of Ukraine. The government said it will end transactions with the Central [...]

Samsung Forced to Stop Shipments to Russia over Currency, Logistics Issues

Samsung Forced to Stop Shipments to Russia over Currency, Logistics Issues

SEOUL, March 7 (Korea Bizwire) — Samsung Electronics Co. said Monday that it has temporarily suspended product shipments to Russia due to major disruptions in global logistics over the unrest over the Russian invasion of Ukraine. “Samsung was forced to stop shipments to Russia due to various factors, including logistics issues and unstable exchange rates, [...]

S. Koreans Volunteer to Join Fight in Ukraine

S. Koreans Volunteer to Join Fight in Ukraine

SEOUL, March 7 (Korea Bizwire) — A number of South Koreans have reportedly volunteered to join Ukraine’s military to fight against Russia’s invasion. The Ukrainian Embassy in South Korea said it is receiving numerous calls about joining the war in Ukraine, most of which turned out to be from South Korean nationals. “We’ve been notifying qualified [...]

Seoul Warns Against Unauthorized Entry to Ukraine to Participate in War

Seoul Warns Against Unauthorized Entry to Ukraine to Participate in War

SEOUL, March 7 (Korea Bizwire) — South Korea’s foreign ministry on Monday warned of possible prison sentences against its citizens seeking to join Ukraine’s military to fight against Russia’s invasion without due approval from the government. Seoul has banned its nationals from traveling to all regions of Ukraine since mid-February amid safety concerns. Those who [...]