GIMHAE - South Korean authorities are investigating Daesung International Trading, a company based in Gimhae, southeastern South Korea, following its addition to the United States' sanctions list due to alleged connections with Russia. The foreign ministry confirmed on Sunday that the company was among 93 entities targeted by the U.S. Bureau of Industry and Security for export restrictions announced on Friday. This move aligns with international efforts to implement sanctions against Russia amid ongoing geopolitical tensions.
According to Yonhap News Agency, the investigation into Daesung International Trading was initiated in coordination with the United States, highlighting the collaborative effort between the two nations to enforce sanctions against entities supporting Russia. The company, led by a Pakistani national, is under scrutiny for potential violations of laws, including the Foreign Trade Act. South Korea's trade ministry and customs agency are conducting a thorough review to determine any legal breaches.
The U.S. sanctions, revealed on the eve of the second anniversary of Russia's invasion of Ukraine and following the death of Russian opposition leader Alexei Navalny, aim to curb the flow of resources and support to Moscow. In a related development, Cubit Semiconductor Ltd., based in Dublin with offices in Ireland and Korea, was also sanctioned by the U.S. for shipping sensitive electronic components to a sanctioned Russian manufacturer. The directors of Cubit Semiconductor are reported to be Korean nationals.
The South Korean foreign ministry emphasized ongoing consultations with the U.S. government, underscoring the importance of shared intelligence and cooperation in the global stance against Russia's actions. As investigations continue, the South Korean government has committed to imposing appropriate penalties and sanctions on Daesung International Trading if any legal violations are confirmed.