South Korea has no plans to follow Western countries' example and impose sanctions on Russia, but it does not rule out that the sanctions introduced against Russia by the United States and the European Union may impact business cooperation between Seoul and Moscow, South Korean Ambassador to Russia Wi Sung-lac told Interfax.
“The Korean government is not planning any sanctions in relation to Russia,” he said.
“But Korean companies frequently work together with Russian partners
not only at the bilateral level, but with the involvement of foreign
companies. That is why this situation may have a certain effect on
them,” he said.
The pace of Russian economic growth is slowing down amid the
continuing crisis in Ukraine, the ambassador said, adding that this
circumstance may influence trade and business relations between Seoul
and Moscow as well.
“If one looks at this short period of time, one cannot say that
business does not consider the current situation on the Russian market
to be complicated. Korean companies are looking at this situation with
caution,” he added.
