South Korea will limit car exports to Belarus

 South Korea is expanding export control measures for the supply of certain goods to Russia and Belarus, this information was published on the website of the country's Ministry of Trade, Industry and Energy.

Seoul will add another 682 types of goods to its export control list for supplies to Russia and Belarus. Thus, the list will increase to 1159 product items.

Some dual-use products will be added: heavy construction equipment, batteries, machine tools and aircraft parts. The South Korean government considers these items to be items with a "high likelihood of military use."

In addition, passenger cars with an engine capacity of more than two thousand cubic centimeters will be subject to restrictions. Previously, restrictive measures applied to cars costing more than $50,000.

The changes will come into force at the beginning of 2024. After this, the export of the above goods to Russia and Belarus will be prohibited.

However, Belarusian and Russian companies will be able to obtain supply permits on an individual basis, subject to certain conditions being met. For example, contracts must be concluded before the changes come into force or supplies go to subsidiaries.

Seoul introduced controls on the export of certain goods to Russia and Belarus in March 2022. Then the list included more than 50 products and technologies - microprocessors, equipment for production, testing and inspection of semiconductors, software, and so on. In April 2023, the list was expanded.

Official dealers of Korean Kia and  Hyundai cars in Belarus, as of September 2022, were experiencing problems with the supply of new cars. By that time, car dealerships had sold almost all their warehouse stocks, and factories in Russia that assembled Korean brands stopped the assembly line due to sanctions.

Against this background, used “Koreans” have become an alternative for many Belarusians, which are currently supplied to the market through intermediary companies involved in selection and delivery.