Sanctions Archives | Be Korea-savvy
Beauty Firms, Duty-free Operators Soar amid Hopes for Lifting of China Sanctions

Beauty Firms, Duty-free Operators Soar amid Hopes for Lifting of China Sanctions

SEOUL, Jan. 13 (Korea Bizwire) –- Major South Korean cosmetics and duty-free operators traded higher Monday amid hopes that China may lift its retaliatory economic measures under way for years against Seoul’s decision to deploy a U.S. anti-missile system here. Amorepacific Corp., the country’s top cosmetics maker, closed at 232,000 won(US$200), up 5.22 percent from [...]

Huawei Eyes More Product Purchases, Investment in S. Korea amid U.S. Sanctions

Huawei Eyes More Product Purchases, Investment in S. Korea amid U.S. Sanctions

SEOUL, Dec. 20 (Korea Bizwire) — Chinese telecommunications behemoth Huawei Technologies Co. on Friday vowed to beef up its business in South Korea by increasing the purchase of parts for its network equipment and smartphones amid continued U.S. sanctions. Karl Song Kai, head of Huawei’s global media and communications, said Huawei also plans to increase [...]

Majority of S. Koreans Support Sanctions Relief on N.K. to Speed Up Nuke Talks: Survey

Majority of S. Koreans Support Sanctions Relief on N.K. to Speed Up Nuke Talks: Survey

SEOUL, Nov. 27 (Korea Bizwire) — A majority of South Koreans think it is necessary to ease sanctions on North Korea to accelerate denuclearization of the Korean Peninsula, a survey showed Tuesday. According to the survey of 1,000 adults here by the National Unification Advisory Council, a presidential consultative body mainly on long-term inter-Korean ties, [...]

U.S. Sanctions on Iran Trouble Refiners over Condensate Imports

U.S. Sanctions on Iran Trouble Refiners over Condensate Imports

SEOUL, Nov. 8 (Korea Bizwire) — South Korean refiners and petrochemical companies are struggling to diversify imports of ultralight crude following the U.S. reimposition of sanctions on Iran over its nuclear program, industry sources said Thursday. Washington on Monday reinstated all Iranian sanctions removed under the 2016 nuclear deal but allowed South Korea and seven [...]

Trum Administration Imposes Fresh Sanctions on N. Korean Company and Individuals

Trum Administration Imposes Fresh Sanctions on N. Korean Company and Individuals

WASHINGTON, March 31 (Korea Bizwire) – The United States blacklisted one North Korean trading firm and 11 individuals Friday as it further tightens the financial screws on Pyongyang over its nuclear and missile programs. Paeksol Trading Corp. was sanctioned for involvement in trading in North Korean coal and minerals, a key source of hard currency [...]

Resumption of Kaesong Complex Could Spark Row over U.N. Sanctions Violation

Resumption of Kaesong Complex Could Spark Row over U.N. Sanctions Violation

SEOUL, Feb. 7 (Korea Bizwire) – A resumption of the now-shuttered joint industrial complex could spark a row over the breaking of the latest U.N. sanctions resolutions against North Korea, a government official said Tuesday.  With the shutdown of the Kaesong Industrial Complex marking the first anniversary this week, whether to resume the factory zone [...]

S. Korea Blacklists Scores of N. Koreans, Entities Linked to Nuke, Missile Program

S. Korea Blacklists Scores of N. Koreans, Entities Linked to Nuke, Missile Program

SEOUL, Dec. 2 (Korea Bizwire) – South Korea unveiled a set of its own punitive measures against North Korea on Friday, blacklisting scores of people and entities suspected of supporting the regime’s nuclear and ballistic missile programs.  The move came days after the United Nations Security Council (UNSC) unanimously adopted Resolution 2321 on Wednesday condemning [...]