Russia Trade Contract with South Korea

South Korea ratified CISG in 2005. The Convention applies automatically to international commercial transactions between Russian and Korean companies.

CISG · 2005

Sanctions compliance

South Korea has joined a number of Western sanctions against Russia. Korean banks may refuse settlements for certain product categories. Check the payment route in advance.

Sanctions · compliance

USD or KRW

KRW (South Korean won) is a convertible currency. International contracts are usually in USD. Settlements in KRW are possible subject to agreement with the bank.

USD/KRW · settlements

173-FZ: repatriation

A Russian resident is required to repatriate proceeds within the deadlines specified in the contract. For amounts from 3 million RUB, a unique contract registration number (UNK) is issued.

173-FZ · repatriation

FAQ

Questions about trade contracts with South Korea

Answers to the most common questions

Yes. South Korea ratified CISG in 2005. The Convention applies automatically.

Request the Business Registration Number (BRN) and verify it via the National Tax Service portal (nts.go.kr) or the Korea Business Registry.

USD. KRW (won) is convertible, but due to sanctions compliance, Korean banks may complicate settlements with Russian companies.

Coal, oil, LNG, metals, chemicals, and timber. Trade has declined significantly since 2022 due to the sanctions regime.

Yes. The export declaration is filed in Russia; the import declaration is filed by the Korean party via the Korea Customs Service (customs.go.kr).

Need expert help?

Complex deals or non-standard terms — our specialists work directly with your contract

Pre-signing consultation

Russian trade delivery guidance
Contract data review and preparation
Terms negotiation support

from 5 000 ₽ / hour

Bank & customs contract

Contract and goods specification
HS code matching and verification
Revisions after customs broker review

from 10 000 ₽

Full transaction support

Contract, specification, amendments
Document revisions during shipment
Post-customs and logistics follow-up

from 25 000 ₽

Russia Trade Contract with South Korea: Key Features

South Korea is one of Asia's largest trading powers. Until 2022, Korea was among Russia's top three trading partners in the Asia-Pacific region. Trade continues, but under substantially changed conditions due to the sanctions regime.

Korean company details

In the contract, specify the Business Registration Number (BRN), the full company name in Korean and English, and the address. Verification is done via NTS (nts.go.kr).

CISG and arbitration

South Korea ratified CISG in 2005. For dispute resolution, KCAB (Korean Commercial Arbitration Board) or the ICC is recommended.

Sanctions regime

Since 2022, South Korea has joined a number of Western sanctions packages. Korean banks apply enhanced compliance checks. Before the deal, verify that the product category is permitted and check the settlement route.

Logistics

Ports: Busan (Korea's largest container port), Incheon, Ulsan. From Vladivostok — 2–4 days by sea. From Black Sea ports via Suez — 25–35 days.

Which contract fits working with South Korea

Import of goods from South Korea

Export of goods to South Korea

Import of services from Korea

Export of services to South Korea

Trade specifics with South Korea

CISG since 2005