Import and export of goods with South Korea — a bilingual EN/RU contract for the bank in 15 minutes. CISG since 2005, settlements in USD
Parties, documents and specifics for every deal scheme
Four contract types — for any deal structure with a Korean partner
Import electronics, automobiles, ships, semiconductors, and chemicals from Korea.
Export oil, coal, gas, metals, and raw materials to South Korea.
Contract for services from Korean companies: IT, shipbuilding, consulting.
Contract for services to Korean clients: IT, engineering, education.
Key terms to reflect in the contract with South Korea
South Korea acceded to the CISG in 2004 (in force since 1 March 2005). The Convention applies automatically to contracts for the sale of goods between Russian and Korean companies.
CISG · 2005South Korea has joined a number of Western sanctions against Russia. Check the payment route with your bank in advance.
Sanctions · complianceThe contract can be denominated in USD or KRW (South Korean won).
USD/KRW · settlementsThe deadlines for receiving proceeds are set in the contract — the bank takes them into account when registering it; the mandatory amount of foreign currency proceeds to be credited is set by Presidential Decrees No. 79 and No. 430. For amounts from 3 million RUB (import) or 10 million RUB (export), a unique contract registration number (UNK) is issued.
173-FZ · contract registrationAnswers on drawing up a contract with a company from South Korea
Fill in the form, pay online — and download right away. The file is accepted by banks and customs.
Trade continues, but under substantially changed conditions due to the sanctions regime.
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).
South Korea acceded to the CISG in 2004 (in force since 1 March 2005). In our contract, disputes go to the ICAC at the Chamber of Commerce and Industry of the Russian Federation, and the governing law is Russian.
Since 2022, South Korea has joined a number of Western sanctions packages. Before the deal, verify that the product category is permitted and check the settlement route.
Ports: Busan, Incheon, Ulsan.