Sanctions Archives | Be Korea-savvy
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 [...]

S. Korean Crypto Exchanges Block Russian IP Addresses over its Invasion of Ukraine

S. Korean Crypto Exchanges Block Russian IP Addresses over its Invasion of Ukraine

SEOUL, March 3 (Korea Bizwire) — Major cryptocurrency exchanges in South Korea have blocked IP addresses from Russia in an effort to join global sanctions against Moscow over its invasion of Ukraine. Upbit, the country’s largest cryptocurrency exchange by transaction, announced Thursday withdrawal requests from Russian IP addresses could be rejected. “We’ve blocked subscriptions by [...]

TIS Shares Best Practices and Enables Compliance Capabilities for Customers Impacted by Russian Sanctions

TIS Shares Best Practices and Enables Compliance Capabilities for Customers Impacted by Russian Sanctions

BOSTON, March 1 (Korea Bizwire) — TIS, a global leader in enterprise B2B payments, today announced a new initiative to help international businesses mitigate the impact of recent sanctions levied against Russia’s banking community and political elite. Following Russia’s invasion of Ukraine, the political leadership of many NATO, European, and North American nations have agreed [...]

S. Korean Chipmakers Brace for Impact from U.S. Sanctions Against Russia

S. Korean Chipmakers Brace for Impact from U.S. Sanctions Against Russia

SEOUL, Feb. 25 (Korea Bizwire) — South Korean chipmakers will be affected by export controls that Washington imposed on Russia over the Ukraine crisis, but the impact is not likely to be significant, experts said Friday. The U.S. Commerce Department announced new sanctions Thursday that it said “will severely restrict Russia’s access to technologies and [...]

Civic Group Calls for Lifting Anti-N. Korea Sanctions, Resuming Kaesong Complex

Civic Group Calls for Lifting Anti-N. Korea Sanctions, Resuming Kaesong Complex

SEOUL, Oct. 2 (Korea Bizwire) — A civic group advocating for national reunification called Saturday for the lifting of South Korea’s standalone sanctions against North Korea and the resumption of a now-shuttered joint industrial complex to pave the way for a thaw in cross-border ties. The South Korean Committee for Implementation of the June 15 [...]

Samsung to Benefit from Huawei Ban in Long Run: Analysts

Samsung to Benefit from Huawei Ban in Long Run: Analysts

SEOUL, Sept. 11 (Korea Bizwire) — Samsung Electronics Co. is likely to benefit from U.S. sanctions on Chinese tech titan Huawei Technologies Co. in the long run, analysts here said Friday. The U.S. sanctions, which ban the supply of semiconductors made with American equipment or software to Huawei without prior approval from Washington, are set [...]

U.S. Sanctions on Huawei to Hit S. Korean Chipmakers

U.S. Sanctions on Huawei to Hit S. Korean Chipmakers

SEOUL, Sept. 9 (Korea Bizwire) – Samsung Electronics Co. and other South Korean memory chipmakers will feel the pinch of additional U.S. sanctions on Chinese telecom giant Huawei Technologies Co. that take effect next week, industry sources said Wednesday. The new sanctions, which ban the supply of semiconductors made with U.S. equipment, software and design [...]