The statement notes that “the list of goods subject to export restrictions is increased from 57 to 798 items”. It is reported that the new export control rules will come into effect on Friday, April 28. The new list includes various goods and equipment from the construction and industrial, chemical and steel sectors. In addition, drivers and computers, as well as auto parts more expensive than $50,000, entered it.
It should be noted that the decision was made at the end of February. In two months, Seoul aligned all regulatory frameworks. Businesses can apply for permission to export goods, but their applications will be strictly scrutinized. The criteria for obtaining authorization have not yet been published.
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