South Korea Government Information Services
🌐 The government information contains a list of websites with public services and databases from national institutions.
🏛 List of institutions of South Korea with public services, phones, address, websites, public databases and offices location.
📂 The directory provides information about ministries, institutes, embassies, consulates, lists of local authorities and politics.
✔️ Verify the name of people or companies to find if appears in lists of entities with national or international records.
🔎 The results of the search includes data from public records related with South Korea in the lists of politics, PEPs, famous people, OFAC (Office of Foreign Assets Control), Interpol, UN and other sources.
Lee Hahn-choon
| Name: | Lee Hahn-choon | | Type: | Person | | Name: | 이한춘; 李漢春; Хан Чун Лі; Lee Hahn-choon | | Alias: | 李 漢春 | | Country: | kr | | Topics: | role.diplo; role.pep | | Birth Date: | 1935-01-18 | | Birth Place: | South Korea | | Position: | ambassador | | Notes: | diplomaat |
Hur Seung-chul
| Name: | Hur Seung-chul | | Type: | Person | | Name: | 許勝澈; Hur Seung-chul; 허승철; Хо Сун Чьол | | Alias: | 許 勝澈 | | Country: | kr | | Topics: | role.diplo; role.pep | | Birth Date: | 1959 | | Birth Place: | Incheon | | Position: | ambassador | | Notes: | South Korean diplomat and professor |
Lee Sung-joo
| Name: | Lee Sung-joo | | Type: | Person | | Name: | 李晟周; 이성주; Lee Sung-joo; Lee Seong-joo; Li Sung-Joo; Лі Сонг Джу | | Alias: | 李 晟周; 이성주 | | Country: | kr | | Topics: | role.diplo; role.pep | | Birth Date: | 1950-12-15 | | Birth Place: | South Korea | | Position: | ambassador | | Notes: | South Korean diplomat |
An Hyon-won
| Name: | An Hyon-won | | Type: | Person | | Name: | Ань Хен Вон; An Hyon-won; 안현원; 安賢源 | | Alias: | 安 賢源 | | Country: | kr | | Topics: | role.diplo; role.pep | | Birth Date: | 1936-04-01 | | Birth Place: | South Korea | | Position: | ambassador | | Notes: | South Korean diplomat |
Blasio Park
| Name: | Blasio Park | | Type: | Person | | Name: | 박현동; Blasio Park | | Alias: | Blasio Park Hyun-dong | | Country: | kr | | First Name: | Blasio | | Last Name: | Park | | Topics: | role.pep | | Birth Date: | 1970-02-03 | | Birth Place: | South Korea | | Position: | apostolic administrator of the Territorial Abbey of Tokwon (2013-); abbot of Waegwan | | Notes: | Korean Catholic priest |
Titus Seo Sang-Bum
| Name: | Titus Seo Sang-Bum | | Type: | Person | | Name: | Titus Seo Sang-Bum; 서상범 | | Country: | kr | | First Name: | Titus | | Topics: | role.pep | | Birth Date: | 1961-02-06 | | Birth Place: | Seoul | | Position: | Bishop of the Military Ordinariate of Korea (2021-) | | Notes: | South Korean bishop |
Jong Yong-su
| Name: | Jong Yong-su | | Type: | Person | | Name: | 鄭永秀; 정영수; Jong Yong-su; 鄭永洙 | | Country: | kr | | Topics: | role.pol; role.pep | | Birth Date: | 1967-12-01 | | Position: | North Chungcheong Province councilor (2014-) | | Notes: | politician |
Yoon Chang-ryul
| Name: | Yoon Chang-ryul | | Type: | Person | | Name: | Yoon Chang-ryul; 윤창렬 | | Country: | kr | | Topics: | role.pep | | Notes: | South Korean politician |
КЁНСОН ЧЖАН
| Name: | КЁНСОН ЧЖАН | | Type: | Person | | Name: | КЁНСОН ЧЖАН | | Country: | kr | | First Name: | КЁНСОН | | Last Name: | ЧЖАН | | Topics: | sanction.linked |
Ma Eunhyeok
| Name: | Ma Eunhyeok | | Type: | Person | | Name: | Ma Eunhyeok; 馬恩赫; 마은혁 | | Alias: | Ma Eun-hyeok; Ma Eun-hyuk | | Country: | kr | | Topics: | role.judge; role.pep | | Birth Date: | 1963-09-07 | | Position: | Justice of the Constitutional Court of Korea (2025-) | | Notes: | Justice of the Constitutional Court of Korea from 2025 |
Kim Wan-sup
| Name: | Kim Wan-sup | | Type: | Person | | Name: | 김완섭; Kim Wan-sup | | Country: | kr | | Topics: | role.pep | | Birth Date: | 1968-04-19 | | Notes: | South Korean politician (born 1968) |
Kang Do-hyung
| Name: | Kang Do-hyung | | Type: | Person | | Name: | Kang Do-hyung | | Country: | kr | | Topics: | role.pep | | Birth Date: | 1970-09-30 | | Notes: | South Korean politician (born 1970) |
Lee Doo-hee
| Name: | Lee Doo-hee | | Type: | Person | | Name: | 이두희; Lee Doo-hee | | Country: | kr | | Topics: | mil; role.pep | | Birth Date: | 1967 | | Notes: | South Korean politician and general |
RMK Co. Ltd.
| Name: | RMK Co. Ltd. | | Type: | Company | | Name: | RMK Co. Ltd. | | Country: | kr | | Topics: | export.risk | | Website: | http://www.rmktube.co.kr/ | | Notes: | On December 1st, 2013, RMK signed a Technical Collaboration Agreement with Homa Steel in Iran. Under the deal, “RMK will support technically to Homa Steel, built new factory recently, which can produce Pipe and Tube products with the Drawing Machine, Heat Treatment Furnace, Swaging and Straightening Machines etc. supplied and installed by Raremetal Korea. RMK will delegate the Engineers to Homa Steel for Supervision of Production, Process and Quality Control etc. and also invite Homa’s Engineers for Technical Training at RMK Factory. RMK will receive the Initial Payment and Running Royalty regularly from Homa Steel as a compensation for this kinds of service.” (RMK Company Website, “News Release,” 12/6/13,) (http://www.webcitation.org/6PRZpf8eG); According to its Company Website, RMK attended the Iran’s 18th annual oil show in May 2013. (RMK Company Website, “News Release,” 5/31/13) (http://www.webcitation.org/6PRa3GaLI); On its Company Website, Iran is listed as a part of RMK's "Global Network." (RMK Company Website, "Global Network") (http://www.rmktube.co.kr/); Accroding to its Company Website, RMK attended Iran's 19th annual international oil show. (RMK Website, "New Release," 5/6-5/9/14) (http://www.webcitation.org/6PRZbU7UY); “At this week's annual Oil, Gas and Petrochemical Fair in Tehran, a massive event that attracted 600 foreign companies, Lee said she was here to stay….Mike Song, a sales official at South Korea's RMK Co Ltd, which started supplying pipes, valves and other equipment in Iran 10 years ago, said big opportunities await, if the political obstacles can be removed. ‘Business with Iran has been dwindling -- practically with no new orders -- due to sanctions and pressures,’ he said. ‘We want to make a comeback.’” (AFP, “China may lose out if Iran oil sanctions lifted,” 5/9/14) (http://news.yahoo.com/china-may-lose-iran-oil-sanctions-lifted-060940180.html); On its Company Website, the U.S. is listed as a part of RMK's "Global Network." (RMK Company Website, "Global Network") (http://www.rmktube.co.kr/) |
SK E&C
| Name: | SK E&C | | Type: | Company | | Name: | SK E&C | | Country: | kr | | Topics: | export.risk | | Website: | http://www.skec.com/ | | Notes: | As of December 2020, Rhode Island continues to list SK E&C as having active investment in Iran's energy sector of at least greater than $20-50 million. (http://data.treasury.ri.gov/dataset/c56b9795-4c0b-4749-80a8-78418efc1492/resource/9d4e0eae-3bb0-4ed2-977a-db21ad57ea96/download/RhodeIslandIranContract2020.xlsx); "South Korea’s SK Engineering & Construction Co. has signed a contract to launch a feasibility study for a $20 million modernization project for Iran’s Parsian Oil & Gas Development Group Co. (POGD). Under the non-binding agreement, SK will first explore business prospects on the project of refurbishing facilities of Tabriz Oil Refining Co., an affiliate of POGD, in Tabriz, a northwestern city of Iran. The work includes upgrades to desulfurization equipment worth $20 million and other gasoline manufacturing facilities, said an official of the company. The study will take about six months." (Tehran Times, “SK Engineering tapped to renovate oil refining facility in Iran,” 6/5/2016) (http://www.tehrantimes.com/news/403118/SK-Engineering-tapped-to-renovate-oil-refining-facility-in-Iran); "South Korea’s SK Engineering & Construction said on Sunday it had signed a deal with Iran’s Tabriz Oil Refining Company worth $1.6 billion to renovate the Iranian company’s refinery facility. SK E&C said in a statement that the project involves upgrading Tabriz Oil Refining Company’s 110,000-barrels-per-day refinery, which opened in 1976 and is located in the northwest of Tehran." (August 6, 2017). (https://www.reuters.com/article/us-sk-e-c-iran-idUSKBN1AM076); "SK Engineering & Construction (E&C) has bagged a 4.1 trillion won ($3.6 billion) contract to build and operate new power plants in Iran. According to an SK E&C official, Sunday, the construction firm purchased a 30 percent stake in UNIT International, Turkey's energy giant. Under the deal, SK E&C is expected to participate in the Turkish firm's ongoing project to build and operate five new gas-fired power plants in Iran. SK E&C will build and operate five new power plants in five locations throughout the country, Iran's largest private energy project ever to produce a combined generation capacity of 5,000 megawatts. "The project is monumental," Land, Infrastructure and Transport Minister Kang Ho-in said." (Korean Times, "SK E&C Clinches 4.1 Trillion Won Project In Iran," 3/19/2017). (http://r20.rs6.net/tn.jsp?f=001gY5TMjtokLOq4T-usYoDEDMRabI--RL9eDi8UVguE1wPAaB6zUEeBk1_Iv7LL0yG2DhfvO3Rn3u37RspEiMwxeE4nzKeoGTlPQIjE5bDxw3zRaY0DxrMy1xGq44zom5_d9suxUHmAqp4QFBzeCpiH1bjHDPn65SlazuQ6JObthmKI0dX0fTIllu8Qaadg68yTfRoRCEFhPS4dsLXWEdCU02XFmBo7-XKLqniCFUpRH8=&c=0iTsnR4578OUmiex8gyLazqyiBH1Led340iaoK5Jez1jbfl1ridqqg==&ch=Bputx12yuSrRejpFATzKuQsp2o2C6t2zE9YZCv_qzLJMYOEKGtuKwA==); Halted work on a $1.88 billion contract to upgrade an oil refinery in Tabriz. ("Sinopec persists with Iran refinery upgrade," Argus Media, September 20, 2018.) |
Shinhan Bank
| Name: | Shinhan Bank | | Type: | Company | | Name: | Shinhan Bank | | Country: | kr | | Topics: | export.risk | | Website: | http://www.shinhan.com/en/ | | Notes: | "South Korea's finance minister said on Thursday his country will start trading with Iran using the euro on Aug. 29. 'It will be implemented from next Monday,' Yoo Il-ho told reporters in Seoul, referring to a decision which will allow trade between the two nations to be settled in the euro. The move 'will greatly resolve obstacles that stood in the way of facilitating investment and trading with Iran,' Yoo said, and added that KEB Hana Bank, Shinhan Bank and Woori Bank have been selected as settlement banks. Up till now, South Korea's purchases of Iranian oil and payments for construction projects in Iran have been settled in the won, restricting business activities even after the lifting of Western sanctions against the Middle Eastern country." (Reuters, "South Korea to start trading with Iran in euro on Aug 29," 08/25/2016). |
SK Shipping
| Name: | SK Shipping | | Type: | Company | | Name: | SK Shipping | | Country: | kr | | Topics: | export.risk | | Website: | http://www.skshipping.com/Overview/Contribute/ViewRelative.aspx?lang=e | | Notes: | "Earlier this month, two South Korean shipping companies said they had suspended importing Iranian crude due to a separate EU embargo set to come into force from July. SK Shipping, which handles the needs of refiner SK Energy, said it shipped its last cargo from Iran early this month and it would arrive by the end of June." (AFP, "S.Korea reports sharp fall in Iran oil imports," 6/25/12) (http://www.unitedagainstnucleariran.com/company/sk-energy) (http://www.google.com/hostednews/afp/article/ALeqM5g0tW_RDJPLaoDyqDXtVGqhVN-tyQ?docId=CNG.70b4a1719294974e0e6e751837a6a237.541); SK Shipping is a subsidiary of SK Holdings and works in conjunction with SK Energy (http://www.unitedagainstnucleariran.com/company/sk-energy) |
Youngshin
| Name: | Youngshin | | Type: | Company | | Name: | Youngshin | | Country: | kr | | Topics: | export.risk | | Website: | http://diecutter.co.kr/e_index.php | | Notes: | Youngshin is a South Korean die-cutter manufacturer, with over 70% of the South Korean die-cutting equipment market. It has a wholly-owned American branch, Youngshin USA, located in Illinois (Company Website). (http://www.youngshinusa.com/); Iranian engineering company IHI Hydraulic Industries announces on the front page of their website that, "IHI has obtained license from Korean company Youngshin for manufacturing of high technology command hydraulic pumps for sedans and trucks." (http://www.ihihydraulic.com/ihi/engihi/tabid/87/language/en-US/Default.aspx) |
Samkang M&T
| Name: | Samkang M&T | | Type: | Company | | Name: | Samkang M&T | | Country: | kr | | Topics: | export.risk | | Website: | http://www.sam-kang.com/en/ | | Notes: | "Samkang M&T (100090) has signed a 27 billion won (US$17.50 million) MOU with Iranian shipbuilder ISOICO to install a 1000-ton crane, it said on July 20. The deal amounts to 14.04 percent of the firm’s latest total sales. The contract will expire March 18, 2018." (July 20, 2016). (http://theinvestor.koreaherald.com/companies_detail.php?q=SAMKANG M&T(100090)&mode=stock&stockcode=100090) (http://www.koreaherald.com/view.php?ud=20160720000845); Shipbuilders vying to land more projects amid a global drought in demand are eyeing countries in the Middle East, attracted by eased sanctions against Iran and signs of international oil price recoveries... Since Hyundai Heavy Industries signed a $700 million order to build 10 vessels for Iran’s state-owned Islamic Republic of Iran Shipping Lines last week, expectations are growing for other shipbuilders to ink new deals as well. Currently, Iran owns 175 ships. Among them, 43 are more than 20 years old and 110 are more than 10 years old, according to shipping research company Clarksons. Replacement orders for ships older than 20 years alone could result in orders of container and bulk carriers worth more than a trillion won... In September, shipbuilder Samkang M&T inked a $398.8 million deal with Iran’s state-run shipyard Iran Shipbuilding & Offshore Industries Complex. The amount is not as big, but it equals roughly two years of revenue. Samkang will supply a 1,000 ton crane and build facilities for the shipyard. (Korea JoongAng Daily, "Shipbuilders set sights on contracts in Mideast," 12/15/2016). (http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=3027412) |
SK Networks Ltd.
| Name: | SK Networks Ltd. | | Type: | Company | | Name: | SK Networks Ltd. | | Country: | kr | | Topics: | export.risk | | Website: | http://www.sknetworks.co.kr/eng/index.jsp | | Notes: | Company website lists branch in Tehran, Iran as part of global network. (Company Website) (http://www.sknetworks.co.kr/eng/esknproc/network/europe.jsp#4); From 2000-2009, the company was a recipient of $36.6 million US federal funds. Their business investments in Iran are currently active. (The New York Times, "Profiting from Iran, and the US," 3/6/2010) (http://www.nytimes.com/interactive/2010/03/06/world/iran-sanctions.html); "SK Networks has been in Iran since 1984, supplying chemical products as well as steel to Iran Khodro Co. and Saipa Corp., two of the largest automakers in the Middle East, according to the company's Web site. SK Networks official Park Woo Sung said that the company's Iran business is currently more focused on selling steel to wholesalers than on the auto industry." |
Samho International
| Name: | Samho International | | Type: | Company | | Name: | Samho International | | Country: | kr | | Topics: | export.risk | | Notes: | In 2018 the U.S. state of Ohio listed Samho as an Iran restricted company rendering Samho ineligible for investment and/or state contracting. (https://www.op-f.org/Files/Scrutinized Companies Iran Sudan.pdf) |
Texa Resource
| Name: | Texa Resource | | Type: | Company | | Name: | Texa Resource | | Country: | kr | | Topics: | export.risk | | Website: | https://theiranproject.com/blog/tag/south-korean-company-texa-resource/ | | Notes: | "Municipality of the Iranian province of Qazvin and South Korean company ‘Texa Resource’ signed a memorandum of understanding (MoU) on urban waste management field. Urban waste management is an important issue in Iran, Qazvin mayor Ali Safari said on Tuesday, expressing the hope to resolve the problem with the help of expert firms. Meanwhile, director general of Texa Resource said waste management was a problem for South Korea, but it was resolved in a short time. He also expressed the hope for mutual cooperation to resolve the issue." (January 30, 2018). (https://theiranproject.com/blog/2018/01/30/iran-s-korea-sign-cooperation-mou/) |
SK Telecom
| Name: | SK Telecom | | Type: | Company | | Name: | SK Telecom | | Country: | kr | | Topics: | export.risk | | Website: | http://www.sktelecom.com/ | | Notes: | "SK Telecom has signed multiple partnerships in Iran, diversifying its revenue stream into the emerging Middle Eastern country. The mobile carrier said Tuesday it clinched network infrastructure contracts with the country's state-run and private organizations ― including the Ministry of Energy, the National Iranian Gas Company (NIGC) and local energy and technology company ARSH Holdings. Under the contracts, SK Telecom will export its smart management systems based on the Internet of Things (IoT), the company said in a statement. The deals come on the sidelines of President Park Geun-hye's three-day visit to Tehran, which started Sunday. SK Telecom CEO Jang Dong-hyun was included in her largest-ever business delegation. Jang and his Iranian counterparts agreed to install SK Telecom's LoRa-based smart energy management infrastructure in the country's major buildings and residential areas. LoRa is an IoT standard technology co-developed by some 200 global information and communications technology companies including Cisco, IBM and SK Telecom. SK Telecom said the Iranian partnerships will boost its market penetration into other emerging countries. The company plans to focus on exporting its IoT-based network infrastructure and services… "We will play a significant role in the country's economic growth by continuing to offer our industry-leading IoT network systems," Jang said in the statement. "SK Telecom will keep providing up-to-date LoRa-based technologies and services for our partnering organizations." (The Korea Times, “SK Telecom solidifies network business partnerships in Iran,” 5/3/2016) (http://www.koreatimes.co.kr/www/news/tech/2016/05/133_203967.html) |
Woori Bank
| Name: | Woori Bank | | Type: | Company | | Name: | Woori Bank | | Country: | kr | | Topics: | export.risk | | Website: | http://eng.wooribank.com/ | | Notes: | “Under penalty of expulsion from the U.S. banking system, Iranian crude customers such as China, Japan and India will be restricted to using their own currencies for the purchases, starting today. Importers will be compelled to keep the payments in escrow accounts that Iran can use only for locally sourced goods and services, in what will amount to barter arrangements…The new blockage on remittances will add to financial restrictions the U.S. imposed last year that curtail Iran’s access to dollars, euros and other hard currencies. Sanctions have already forced it into barter arrangements with China, its largest oil customer…South Korean buyers have been paying for Iranian crude in local won, through two accounts that Iran’s central bank opened in 2010 at the Industrial Bank of Korea and Woori Bank…South Korea’s exports to Iran of goods such as iron, steel and petrochemicals increased 3.2 percent to $6.3 billion last year, while imports dropped 25 percent, to $8.5 billion, according to customs data. Oil made up 99 percent of the goods that Japan and South Korea imported from Iran.” (Bloomberg, “Iran Faces Oil-Cash Squeeze as U.S. Bolsters Sanctions,” 2/6/14) (http://www.unitedagainstnucleariran.com/company/industrial-bank-korea) (http://www.bloomberg.com/news/2013-02-05/iran-faces-oil-cash-squeeze-as-u-s-bolsters-sanctions.html); “South Korea is set to become the second Asian nation to make a payment to Iran for crude oil imports under an interim nuclear deal…Japan became the first of Iran's oil buyers to make a payment to Iran under the eased sanctions earlier this month. It was not clear the amount to be transferred but the Iranian central bank was holding up to $5.6 billion in two won-denominated accounts, one at Woori Bank and the other at Industrial Bank of Korea as of late 2013, according to one of the sources. A second source who confirmed the money transfer added the payment would be made by the two Korean banks next month - one part on early March and the other later in the month…State-owned Woori Bank and Industrial Bank of Korea declined to comment on the money transfer…Bank of Korea and South Korean finance ministry officials contacted by Reuters said no decision had been made about money transfers to Iran.” (Reuters, “South Korea set to make oil payment to Iran - sources,” 2/12/14) (http://www.unitedagainstnucleariran.com/company/industrial-bank-korea) (http://in.reuters.com/article/2014/02/12/iran-korea-idINL3N0LH2UD20140212); We also maintain a limited number of deposit accounts in Korea for an Iranian financial institution that the U.S. government has historically viewed as controlled by the government of Iran. These accounts were opened with us before the institution was designated for U.S. sanctions. Under Korean customer protection requirements, we are unable to provide specific information identifying this Iranian financial institution or the volume of its deposits. In 2016, there were no fee revenues from maintaining such deposit accounts, and there were no expenses directly applicable to such activities under our internal management accounts.
In May 2016, we established a new representative office in Tehran, Iran, which only engages in the collection of local market information and did not generate any revenue in 2016.; We also maintain a limited number of deposit accounts in Korea for an Iranian financial institution that were opened prior to its designation for U.S. sanctions. The relevant accounts have since been restricted, and no transactions are currently allowed through these accounts. Accordingly, there were no fee revenues from maintaining such deposit accounts, and there were no expenses directly applicable to such activities under our internal management accounts."; ESTIMATED AMOUNT: Iran has about 5.9 trillion won ($5.56 billion) in won deposits, a foreign exchange authority source said.” (Reuters, “FACTBOX-Iran's oil fund stash in Asia,” 11/25/13) (http://www.reuters.com/article/2013/11/25/iran-oil-asia-idUSL4N0JA10S20131125); “Iran will receive $4.2 billion from its oil sales to be transferred in instalments if it fulfils its commitments in a landmark nuclear deal struck between world powers and Tehran in Geneva. Here is a look at where Iranian oil payments are held in the countries in Asia that are still importing crude from the OPEC producer…; In 2016, we engaged in the following activities relating to Iran:
We operate certain accounts for CBI, which were opened by CBI pursuant to a service agreement entered into by us and CBI in September 2010 to facilitate trade between Korea and Iran. The accounts opened by CBI consist of Won-denominated accounts that are used for the settlement of exports of goods produced or substantially transformed in Korea to Iran by Korean exporters and Won, U.S. dollar, euro and Japanese Yen-denominated accounts (of which only the Won accounts are in use) that are used for the settlement of imports of crude oil and natural gas from Iran by Korean importers. By the terms of the service agreement between us and CBI, settlement of export and import transaction payments due
from Iranian entities to Korean exporters or from Korean importers to Iranian entities through such accounts opened by CBI are effected by crediting or debiting the relevant amount to or from the applicable accounts while a corresponding payment of funds is made to or from an Iranian bank by CBI. Any funds deposited for the account of Iranian entities as a result of Korean imports of crude oil and natural gas may only be used by transferring them to the Won-denominated account and then making payment to accounts of Korean persons and entities opened at financial institutions in Korea in respect of Korean exports to Iran. No transfers of funds may be made from these accounts to Iran, to Iranian accounts in any third country, or for any use other than those described above. In 2016, the total fee revenue from maintaining the CBI accounts amounted to approximately ￦192 million (which represented approximately 0.002% of our total revenue). As there were no expenses directly applicable to such activities under our internal management accounts, we estimate that our net income before tax from maintaining the CBI accounts also amounted to approximately ￦192 million (which represented approximately 0.012% of our total net income before tax). We intend to continue maintaining the accounts opened by CBI, and in light of the lifting of certain sanctions against Iran, including U.S. secondary sanctions, the scope of our services provided to CBI may be adjusted to reflect such change in circumstances. (https://www.sec.gov/Archives/edgar/data/1264136/000119312517140730/d349374d20f.htm); Woori Bank is the lending unit of South Korea's third-largest financial company, the state-owned Woori Finance Holdings Co. The firm is currently undergoing privatization negotiations and came under investigation for fraud during the summer of 2010. (Businessweek). (http://www.businessweek.com/news/2010-07-23/police-raid-woori-bank-in-korea-on-construction-loans.html); We also maintain a limited number of deposit accounts in Korea for an Iranian financial institution subject to OFAC sanctions that were opened prior to it becoming subject to OFAC sanctions. The relevant accounts have since been restricted, and no transactions are currently allowed through these accounts."; We also provide limited export-import financing services to Korean exporters and importers in connection with their trade transactions with Iran that were permitted under the relevant Korean sanctions and were not subject to U.S. secondary sanctions, primarily by discounting, advising on or issuing letters of credit, and to a lesser extent, issuing performance bonds on behalf of Korean contractors with respect to Iranian construction projects permitted under the relevant Korean sanctions and not subject to U.S. secondary sanctions. All such transactions are settled through the accounts opened by CBI with us as described above. In 2016, our total fee revenue from such export-import financing services amounted to approximately ￦11.5 billion (which represented approximately 0.11% of our total revenue), while our net income before tax from such activities (net of expenses directly applicable to such activities based on our internal management accounts) amounted to approximately ￦4.2 billion (which represented approximately 0.27% of our total net income before tax). We intend to continue providing the export-import financing services with its current scope, to the extent U.S. secondary sanctions or other applicable sanctions remain lifted.; According to its Annual Report filed with the SEC for fiscal year 2019: "In 2019, we engaged in the following activities relating to Iran: (https://www.sec.gov/Archives/edgar/data/1264136/000119312520124619/d873607d20f.htm); According to its form 20-F filed with the SEC for fiscal year 2021: "We [Woori Bank] operate certain accounts for the Central Bank of Iran, or the CBI, which were opened by the CBI pursuant to a service agreement entered into by us and the CBI in September 2010, as amended from time to time, to facilitate trade between Korea and Iran. (https://sec.report/Document/0001193125-22-150789/d238224d20f.htm); In the past, we also provided fund transfer and financing services to Korean exporters and importers in connection with their trade transactions with Iranian parties that were permitted under the relevant Korean sanctions regime. We have discontinued all trade financing activities relating to export and import trades involving the CBI accounts since November 5, 2018.; In May 2016, we established a representative office in Tehran, Iran, which had engaged in the collection of local market information without generating any revenue. Following the re-imposition of sanctions, the representative office is no longer operational and does not have any employees or office space. (2019) (https://www.sec.gov/Archives/edgar/data/1264136/000119312519128772/d695708d20f.htm); According to its Annual Report filed with the SEC in 2014: (https://www.sec.gov/Archives/edgar/data/1264136/000119312514169416/d693824d20f.htm); COUNTRY: South Korea; "Three foreign banks are opening up representative offices in Iran as the country seeks to boost investment after reaching an international sanctions deal last year, a central bank official said. Oman’s Bank Muscat SAOG, Woori Bank of South Korea and India’s UCO Bank Ltd. are all in the process of establishing a presence in Tehran, Central Bank Vice Governor Peyman Ghorbani said Tuesday in an interview." (Bloomberg News, "Three Foreign Banks to Open in Iran, Central Bank Official Says," 11/1/2016). (https://www.bloomberg.com/news/articles/2016-11-01/three-foreign-banks-to-open-in-iran-central-bank-official-says); We have also provided fund transfer and financing services to Korean exporters and importers in connection with their trade transactions with Iranian parties which were permitted under the relevant Korean sanctions regime and not subject to U.S. secondary sanctions. We have discontinued all trade financing activities relating to export and import trades involving the CBI accounts since November 5, 2018. In 2019, all such exports and imports were settled through telegraphic transfer and did not involve our financing services. In addition, we continued to honor our obligations on a limited basis under previously-issued bank guarantees to the extent that such activities did not violate OFAC sanctions or applicable U.S. secondary sanctions. In 2019, our total fee revenue from the relevant telegraphic transfer services amounted to approximately ￦0.64 million. As there were no expenses directly applicable to such activities under our internal management accounts, we estimate that our net income before tax from such activities also amounted to approximately ￦0.64 million.; "A subsidiary of the company has been identified as potentially providing import/export financing services to facilitate trade with Iran. In 2019 CalPERS designated the company as under review. In 2020 CalPERS changed the designation to “being monitored” because CalPERS’ initial screening has not identified the company as having involvement in the regions and/or activities targeted by the Act. CalPERS continues to monitor the company for possible changes in status relevant to the Act." (https://www.calpers.ca.gov/docs/forms-publications/iran-sudan-divestment-2020.pdf); Woori Bank and IBK partially suspend financial transactions with Iran,” Pulse (South Korea), June 19, 2018.) (http://pulsenews.co.kr/view.php?year=2018&no=383785); In 2014, Woori Finance Holdings Co. was identified as providing import-export financing services to facilitate trade with Iran. In late 2014, Woori Finance Holdings Co. merged with its subsidiary Woori Bank and changed its name to Woori Bank. In 2014, CalSTRS designated Woori Finance Holdings Co. as “Under Review” for potentially having ties to Iran. In 2015, CalSTRS determined to classify Woori Bank as “Being Monitored” and maintained that designation in 2018.-- (https://www.calstrs.com/sites/main/files/file-attachments/calstrs_investment_reports_2018.pdf); In October 2010, Woori Bank, along with Industrial Bank of Korea, have been appointed by the South Korean government to "finance legitimate trade with Iran in sectors unaffected by sanctions, channelled through Iran's central bank." The deal will allow Iran's central bank to deposit oil proceeds in Woori Bank, which will then use the funds to pay South Korean firms exporting to Iran. South Korean trade to Iran amounts to $10 billion annually. A Woori Bank spokesman explained that "Iran's central bank is not the target of sanctions, so transactions through the bank are legal. We do not worry about any possibly sanctinons by the US against us" (Financial Times). (http://www.ft.com/cms/s/0/ae807f44-d1ff-11df-965c-00144feabdc0.html); "Woori Finance Holdings Co. was identified as providing import-export financing services to facilitate trade with Iran. In late 2014, Woori Finance Holdings Co. merged with its subsidiary Woori Bank and changed its name to Woori Bank. In 2014, CalSTRS designated Woori Finance Holdings Co. as “Under Review” for potentially having ties to Iran. In 2015, CalSTRS designated the company as “Being Monitored.” In 2020, CalSTRS removed Woori Bank as it no longer held any of the company’s securities." (https://www.calstrs.com/sites/main/files/file-attachments/calstrs-investment-reports-2020.pdf?1609284307); According to its Annual Report filed with the SEC in 2013: (https://www.sec.gov/Archives/edgar/data/1264136/000119312513184536/d525939d20f.htm); BANK: Woori Bank and Industrial Bank of Korea; "In response, Rabobank and Société Générale say they have stopped servicing Iran deals or curbed their trade finance. According to Iranian trade professionals, Korea's Woori Bank and Industrial Bank of Korea have done the same. The Korean banks could not be reached for comment." (The Wall Street Journal, "Willing Banks Find Profits in Legal Trade With Iran," 4/8/2012) (http://professional.wsj.com/article/SB10001424052702303299604577323601794862004.html?mg=reno-secaucus-wsj) |
Samsung Total
| Name: | Samsung Total | | Type: | Company | | Name: | Samsung Total | | Country: | kr | | Topics: | export.risk | | Website: | http://www.samsungtotal.com/EN/main04.aspx | | Notes: | "Refiners in South Korea, the fourth biggest buyer of Iranian crude, need to make further cuts to offset new purchases of Iranian oil from Samsung Total Petrochemicals, the official said. The South Korean joint venture revived the contract with Iran after a year's hiatus, as thin margins in plastics make the cheap crude from Iran hard to resist." (Reuters, "US seeks to sanction firms disguising Iranian oil shipments," 1/31/2013) (http://www.reuters.com/article/2013/01/31/iran-sanctions-us-idUSL4N0AY3XY20130131); "Samsung Total Petrochemicals, a joint venture between South Korea's Samsung Group and French energy giant Total, bought Iranian condensate because thin profit margins in plastics production make inexpensive fuel from the Islamic Republic hard to resist, people familiar with the deal said last week... Samsung Total has declined to comment on the deal. But a spokesman for Total in Paris said the group has complied with all measures applicable to the group." (Reuters, "U.S. plays down purchase of Iran oil by company in South Korea," 1/28/2013) (http://www.reuters.com/article/2013/01/28/us-usa-iran-korea-idUSBRE90R13D20130128); "South Korea would look for alternative supplies from Saudi Arabia, Qatar and the UAE if it could no longer import from Iran, a source at a buyer of Iranian LPG said. The same suppliers have helped to fill the gap on international markets left by the reduction in Iran's crude oil exports this year. Three South Korean firms - E1, SK Gas and Samsung Total - import propane and butane, sources said." (Reuters, "EU sanctions strangle Iranian LPG exports to Asia," 10/31/2012) (http://www.reuters.com/article/2012/10/31/us-lpg-korea-iran-idUSBRE89U0NE20121031); Samsung Total is a joint-venture between Samsung Group and Total SA. |
Hyundai Mipo Dockyard
| Name: | Hyundai Mipo Dockyard | | Type: | Company | | Name: | Hyundai Mipo Dockyard | | Country: | kr | | Topics: | export.risk | | Website: | http://www.hmd.co.kr/english/ | | Notes: | "Islamic Republic of Iran Shipping Lines is negotiating with Hyundai Heavy Industries to purchase up to three mega-ships with capacities of 14,500 twenty-foot-equivalent units, sources close to the matter said. The purchase will help IRSIL break into the ranks of the world’s largest container lines by capacity. Its total capacity of 96,160 TEUs ranks it as the 22nd-largest global carrier, according to maritime analyst Alphaliner. Sources said the ships would range in cost from $120 to $130 million and represent the continuation of a relationship between the Hyundai group and IRISL. 'In 2008, IRISL ordered some ships in our sister yard, Hyundai Mipo Dockyard, but that order was suspended as sanctions kicked in,' a source at HHI said. 'Now, IRISL wants larger ships, which is under the purview of HHI.' The purchase comes after IRISL and CMA CGM in January with the signing of an agreement on terminal access, capacity sharing, and jointly operating certain routes. If HHI wins the deal, it will be the first South Korean shipbuilder to win orders from an Iranian company since the lifting of international sanctions on Iran in January." (JOC, “Islamic Republic of Iran Shipping Lines in talks for mega-ships,” 4/6/2016) (http://www.joc.com/maritime-news/ships-shipbuilding/hyundai-heavy-industries/islamic-republic-iran-shipping-line-talks-mega-ships_20160406.html); "Major Iranian shipping company Islamic Republic of Iran Shipping Lines and oil producer Iranian Offshore Oil Co. have reached preliminary deals with South Korean shipyards for orders worth around $2.4 billion, people involved in the talks said Tuesday. The agreements are part of Iran’s efforts to make a comeback in global shipping after the lifting of international sanctions earlier this year, but completing the orders will depend on financing that the Iranians haven’t yet secured, the people said. 'The yards are making slots available to the Iranians starting in 2018 and 2019,' one of the people said. 'The Iranians are trying to make the 20% down payments through oil state-to-state deals to finalize the orders.' ... Islamic Republic of Iran Shipping Lines, known as IRISL, operates a fleet of container vessels, bulk carriers and tankers. It has signed a memorandum of understanding with Hyundai Mipo Dockyard, a subsidiary of shipbuilding giant Hyundai Heavy Industries Group, for up to 10 petroleum-product tankers and at least six so-called handysize bulk carriers. Product tankers cost around $30 million each and handysize bulkers around $20 million apiece." (The Wall Street Journal, “Iranian Oil, Shipping Companies Set For $2.4 Billion Ship Deals,” 6/7/2016) (http://www.wsj.com/articles/iranian-oil-shipping-companies-strike-2-4-billion-south-korean-ship-deal-1465289444) |
Korean Air
| Name: | Korean Air | | Type: | Company | | Name: | Korean Air | | Country: | kr | | Topics: | export.risk | | Website: | https://www.koreanair.com/global/en.html | | Notes: | "Korea’s largest air carrier sent a request to the Transport Ministry on Tuesday to postpone the start of its Iran flights. According to a spokesman for the airline, the major reason for the delay was the difficulty of beginning the service in the face of escalated tension between US and Iran, with Washington tightening sanctions on the Middle Eastern country." (February 2017) (http://www.koreaherald.com/view.php?ud=20170222000651); In March 2016, Korean Air announced that it was reinstating direct flights between South Korea and Iran . (Korea Times, “Korean Air to operate direct flights to Iran,” 3/11/2016). (http://www.koreatimes.co.kr/www/news/nation/2016/03/116_200200.html) |
KCC
| Name: | KCC | | Type: | Company | | Name: | KCC | | Country: | kr | | Topics: | export.risk | | Website: | http://www.kccworld.co.kr/ | | Notes: | On its website, KCC lists a branch office in Tehran, Iran. (KCC Website, "Global Networks") (http://www.kccworld.co.kr/eng/about/network.asp) |
Hanwha Corporation
| Name: | Hanwha Corporation | | Type: | Company | | Name: | Hanwha Corporation | | Country: | kr | | Topics: | export.risk | | Website: | http://english.hanwhacorp.co.kr/index.jsp | | Notes: | Hanwha Corporation's subsidiary, Hanwha E&C, holds around $60 million in contracts with the US government. (http://english.hanwhacorp.co.kr/Company/AffiliatesInfo/Affiliates/E_C/E_C.jsp) (http://www.usaspending.gov/search?form_fields={"search_term":"HANWHA CORPORATION"}); Hanwha Corporation Tehran Representative Office listed on its company website. (https://m.hanwhacorp.co.kr/eng/trade/network/overseas_branch.jsp); Hanwha Corporation is a major South Korean Conglomerate composed of "two major business units: The Explosives Division which makes commercial explosi-ves, technologically advanced defense industry products and aerospace products, and the Trade Division." According to a list of "Achievements" posted on its company website, the "Explosives" unit of Hanwha Corporation has engaged in multiple projects in Iran. Many of these projects have involved other South Korean companies including Sungjin Geotec Co. and POSCO. The same list reveals that Hanwha Corporation has engaged in business with Petrochemical Industries Design and Engineering Company (PIDEC), one of Iran's largest engineering companies. (http://english.hanwhacorp.co.kr/Company/Overview/About.jsp) (http://english.hanwhacorp.co.kr/BusinessArea/Explosives/Explosives/Cladding/Cladding.jsp) (http://www.unitedagainstnucleariran.com/company/sungjin-geotec-co-ltd) (http://www.unitedagainstnucleariran.com/company/POSCO) |
KMTC
| Name: | KMTC | | Type: | Company | | Name: | KMTC | | Country: | kr | | Topics: | export.risk | | Website: | http://www.ekmtc.com/ | | Notes: | "So despite concerns over regulation and reputation, that opportunity explains the caravan of container carriers that started resuming service to Iran back in January. The Iranian port at Bandar Abbas now welcomes ships from Evergreen, Hyundai, OOCL, Hanjin, “K” Line, KMTC, X-Press, Yang Ming, and many more..." (Global Trade, "Transportation/Logistics:Iran is Back Open for Business," 11/1/2016). (http://www.globaltrademag.com/global-logistics/transportationlogistics-iran-back-open-business) |
GS E&C
| Name: | GS E&C | | Type: | Company | | Name: | GS E&C | | Country: | kr | | Topics: | export.risk | | Website: | http://www.gsconst.co.kr/en/ | | Notes: | "For South Korean builders such as GS Engineering & Construction Corp, a deal would give a lift for a sector buffeted by sluggish demand in the Middle East, the industry's biggest market. Shares in GS E&C, which walked away from a $1.2 billion project in Iran five years ago as sanctions escalated, gained nearly 5 per cent on Wednesday, and South Korea's construction index ended nearly 3 per cent higher on hopes the Iran deal will generate new business. 'When the Iranian nuclear agreement is reached and sanctions are lifted, we plan to actively re-enter Iran's construction market,' said Huh Tai-youll, a GS E&C spokesman." (NDTV, "Asia Inc Looks to Post-Sanctions Iran for Demand Spurt," 7/15/15) (http://profit.ndtv.com/news/corporates/article-asia-inc-looks-to-post-sanctions-iran-for-demand-spurt-781820); As of March 9, 2021, GS E&C remained on the Florida SBA List of Continued Examination Companies with Petroleum Energy Activities in Iran. (https://www.sbafla.com/fsb/Portals/FSB/Content/GlobalGovernanceMandates/QuarterlyReports/Global_Governance_Mandates_and_Florida Statutes_2021_03_09.pdf?ver=2021-03-09-125453-813); On its Company Website, GS E&C lists an "overseas branch office" in Iran. (http://www.gsconst.co.kr/en/Company/GlobalCo.aspx); “South Korea's GS Engineering & Construction (GS E&C) said on Thursday that it has called off a 1.42 trillion won ($1.2 billion) gas project in Iran following sanctions on the Middle East nation. The company said in a filing to a regulatory agency that it it had cancelled on Wednesday the contract to sweeten gas from the South Pars field in Iran, signed with the Pars Oil and Gas Company (POGC) last October. The White House on Wednesday said U.S. President Barack Obama would sign into law tough new sanctions targeting Iran's energy and banking sectors…South Pars is on the Iranian side of the world's largest known gas reservoir not associated with oil production.” (Reuters, “S.Korea GS E&C says scraps $1.2 bln Iran gas deal,” 7/1/10) (http://www.reuters.com/article/2010/07/01/gsec-iran-idAFTOE66007020100701); "South Korean construction firm GS Engineering and Construction is moving to jump back into the Iranian construction market after eight years. GS E&C is currently in talks with Entekhab Investment Development Group to lead the construction design of a petrochemicals project in the Middle Eastern country. The design contract is reportedly expected to be worth some $6 million." (November 2017) (http://www.koreaherald.com/view.php?ud=20171129000911); In 2017 the U.S. state of Alaska, Minnesota and Pennsylvania listed GS Engineering & Construction on its list of companies doing material business with Iran rendering GS Engineering & Construction ineligible for investment and/or state contracting. (http://treasury.dor.alaska.gov/Portals/3/docs/ARMB Iran Divestment List 12-31-17.pdf) (https://www.leg.state.mn.us/docs/2017/mandated/170167.pdf) (https://www.patreasury.gov/pdf/divestment/2017-Annual-Divestment-Report.pdf); GS Engineering is listed on the June 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list. (http://treasury.dor.alaska.gov/Portals/3/docs/resolutions/ARMB Iran Divestment List 6-30-19.pdf); In 2017 the U.S. state of Florida listed GS E&C on its continued examination list of companies with petroleum energy activities in Iran. (https://www.sbafla.com/fsb/Portals/FSB/Content/GlobalGovernanceMandates/QuarterlyReports/2017/Global_Governance_Mandates_and_Florida Statutes_2017_12_13.pdf?ver=2017-12-13-145507-737); In 2018 GS Engineering & Construction was removed from Pennsylvania Treasury's Iran List of Prohibited Investments because "there is no recent evidence that indicates the company meets criteria." (https://www.patreasury.gov/pdf/divestment/2018-Annual-Divestment-Report.pdf); GS Engineering & Construction is listed on the March 1, 2022 Report to the New Jersey Legislature Iran Divestment as a prohibited company. (https://www.nj.gov/treasury/doinvest/pdf/index/Iran_Progress_Report.pdf); “GS E&C, a Korean construction company, has recently started to survey the Iranian market to decide on its entry into the market. This proactive attempt is a response to the limited lifting of sanctions against Iran. Expecting that the barrier to the Iranian market will be eliminated, the company is closely watching international situations such as Iran’s nuclear negotiations while collecting information about Iran from its employees who have worked in Iran. It is internally said that the company ‘is ready to enter the Iranian market with a click of a button.’ Before Iran is sanctioned, GS E&C won a deal for the construction of gas desulfurization plant facilities in Iran, which was worth 1.4 billion U.S. dollars, in 2009. An official from GS E&C said, ‘Most of Iran’s strategic projects of building gas processing facilities in South Pars were granted to Korean construction companies. Iran is an important market for Korean firms,’ adding, ‘Once a bid process kicks off, remarkable Korean companies, which can meet the requirements for price, technology and construction duration all together, will enter the market’…In 2009 when Iran was not sanctioned, Korean construction firms won projects worth about 2.49 billion dollars in total in Iran. In terms of the amount, Iran was the fifth largest client to Korean construction firms, following the United Arab Emirates and Saudi Arabia…According to the International Contractors Association of Korea (ICAK), Iran’s construction market is estimated to be about 88.7 billion dollars in 2013 and expected to almost double by 2016 (about 154.4 billion dollars). This kind of estimation is based on that Iran has an urgent need to build new plants in order to export its crude oil and that its demands for infrastructure must be large given its land scale.” (The Dong-A Ilbo, “Will thawing sanctions against Iran boost construction business?” 2/2/14) (http://english.donga.com/srv/service.php3?biid=2014020311818); GS E&C is a subsidiary of GS Group (http://www.unitedagainstnucleariran.com/company/gs-group); In 2020, the U.S. state of Mississippi listed GS E&C on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting. (https://www.dfa.ms.gov/media/sd1ccddh/businesses-doing-business-with-iran-12-4.docx); GS Engineering is listed on the March 2019 Alaska Retirement Management Board, Companies Doing Material Business with Iran list. (http://treasury.dor.alaska.gov/Portals/3/docs/resolutions/ARMB Iran Divestment List 3-31-19.pdf); In 2011, GS E&C was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996. (https://www.patreasury.gov/pdf/divestment/2011-Annual-Divestment-Report-print.pdf) |
Hyundai Wia
| Name: | Hyundai Wia | | Type: | Company | | Name: | Hyundai Wia | | Country: | kr | | Topics: | export.risk | | Website: | http://en.hyundai-wia.com/main/main.asp | | Notes: | “Korea's automotive parts makers such as Hyundai Wia are in danger of losing the money from selling auto parts to Iran. As the United States government extended the sanctions on the pariah nation to be in effect on July 1, it has also banned financial transactions such as payments for bills payable. To make matters worse, most Korean banks have stopped releasing the money wired by Iranian importers even before the sanctions go into effect… Given Hyundai Wia supplies 95 percent of its parts to Hyundai and Kia, the new sanctions will hurt the company's bottom line acutely.” (The Korea Economic Daily, “Hyundai Wia in Danger of Losing Big in Iran,” 6/27/13) (http://english.hankyung.com/news/apps/news.view?c1=04&nkey=201306270937281) |
Kiswel
| Name: | Kiswel | | Type: | Company | | Name: | Kiswel | | Country: | kr | | Topics: | export.risk | | Website: | http://www.kiswelweldingproducts.com/ | | Notes: | Kiswel attended Iran’s 19th annual international oil and gas show between May 6-9. (Press TV, “Foreign firms rushing towards Iran's oil market,” 5/6/14) (http://www.presstv.ir/detail/2014/05/06/361582/iran-oil-show/); "Foreign firms dealing with Iran's oil and gas sector admit that severe Western sanctions are taking their toll on business, despite Tehran talking up its ambitions at the opening of an international industry exhibition this week. The International Oil, Gas, Refining and Petrochemical Exhibition, held in northern Tehran, was three-quarters filled by Iranian companies working at every level of the industry, from the biggest to ones involved in peripheral activities such as instruments, quality inspections and oil barrel manufacturing. There were 315 foreign stands, down from the 496 present at last year's trade show. Some of the biggest foreign companies that had been major partners in the industry, such as the Anglo-Dutch group Shell and Italy's ENI, were not present. Others, such as the China Petroleum Technology and Development Corporation, the French-Iranian joint venture Beh Total and Norway's Statoil, did have stands -- but representatives there told AFP they had been instructed by their bosses to give no comments at all to journalists...Seung-Hwan Jung, an export manager for Kiswel, a South Korean welding parts firm partnered for years with an Iranian company, was one of the few foreigners to speak on the record. His company's dealings with the country were "good" but were hobbled by the "political problems," he said. Stepping in to fill a vacuum left by departing German companies, Kiswel has doubled its Iran earnings projection to $1.5 million compared to last year, he said. 'We want to be number one in the market, up from maybe 3rd of 4th last year," he said. He added: "Iran can't do everything by itself. It needs reserves from other countries.'" (Agence France-Press, "Foreign firms say times tough in Iran's energy sector," 4/18/12) (http://www.google.com/hostednews/afp/article/ALeqM5iaYg1zsiY30bA5iS12pQ4f84Z8-Q?docId=CNG.ef48bed6020889f8396c1f06d4203fc4.381) |
Hyundai Rotem
| Name: | Hyundai Rotem | | Type: | Company | | Name: | Hyundai Rotem | | Country: | kr | | Topics: | export.risk | | Website: | https://www.hyundai-rotem.co.kr/eng/ | | Notes: | "Hyundai Rotem Co., a train-making unit of Hyundai Motor Group, said Wednesday that it has signed a tentative deal to supply diesel-driven trains to Iran for about US$260 million. The deal signed with Iran's state-run railway corporation calls for Hyundai Rotem to produce and supply 150 train cars. An official contract is expected to be inked in late July, the company said in a press release. The trains to be supplied will be deployed on the 960-kilometer line in operation in the suburban region of Tehran. Hyundai Rotem said that the contract from Iran was possible in part thanks to its continued cooperative business ties in Iran even after international sanctions were imposed on the country. Hyundai Rotem signed a similar deal in 2004 to supply 150 train cars to Iran but it had to be put on hold after 2010 due to the sanctions. Before the suspension, the company had supplied 68 cars of the total without receiving pay. As the sanctions were lifted earlier this year, the company said that it will hold negotiations to settle the unpaid bill worth around 87.6 billion won (US$76.1 million) and supply the remainder of the promised train cars to Tehran." (Yonhap, “Hyundai Rotem wins deal to supply trains to Iran,” 5/4/2016) (http://english.yonhapnews.co.kr/news/2016/05/04/72/0200000000AEN20160504004400320F.html?55de0df0) |
Pan Ocean
| Name: | Pan Ocean | | Type: | Company | | Name: | Pan Ocean | | Country: | kr | | Topics: | export.risk | | Website: | http://www.panocean.com/Eng/default.aspx | | Notes: | “Iranian and South Korean officials underlined their willingness to further broaden their relations in shipping and maritime sector. Deputy Head of Trade Development Organization of South Korea Kiman Nam and Managing Director of Iran's Ports and Maritime Organization Mohammad Saeednejad, in a meeting in Tehran on Sunday, discussed ways for increased presence of South Korean vessels in Iranian waters. Managing Directors of South Korean Hyundai, Pan Ocean and Hanjin shipping lines who took part in the meeting highlighted boosting the mutual cooperation on ports, sea and shipping lines. The Iranian official, on his part, said the country is ready to work with South Korean companies, and added Iran is ready for a shipping line agreement with the country. The South Korean official, for his part, said his country is ready for bolstering naval and port cooperation with Iran. Late in January, Iranian Parliament Speaker Ali Larijani and his South Korean counterpart Kang Chang-hee, in a meeting in Tehran, voiced their capitals' willingness to open new avenues for expansion of their bilateral relations in all spheres. The volume of non-oil trade transactions between Iran and South Korea stood at $6.2 billion in 2012.” (Fars, “Iran, South Korea to Enhance Maritime Cooperation,” 3/10/14) (http://www.unitedagainstnucleariran.com/company/hyundai-merchant-marine) (http://www.unitedagainstnucleariran.com/company/hanjin-shipping) (http://english.farsnews.com/newstext.aspx?nn=13921219001138); On Pan Ocean's Company Website, the Islamic Republic of Iran is listed among those countries on the "Service Routes" of Pan Ocean Tankers, Break Bulk Liners, and Trampers. (http://www.panocean.com/Eng/Biz/tanker.aspx) (http://www.panocean.com/Eng/Biz/break-bulk.aspx) (http://www.panocean.com/Eng/Biz/tramper.aspx); Pan Ocean is a subsidiary of STX Corporation.; On Jun 7, 2013 STX Pan Ocean went bankrupt.[1] (https://en.wikipedia.org/wiki/STX_Pan_Ocean#cite_note-1) |
LS Group
| Name: | LS Group | | Type: | Company | | Name: | LS Group | | Country: | kr | | Topics: | export.risk | | Website: | http://lsholdings.com/en/main/index.asp | | Notes: | In 2018 the U.S. state of Ohio listed LS Industrial Systems Co., Ltd. on its list of entities determined to be engaged in prohibited activities in Iran rendering LS Industrial Systems Co., Ltd. ineligible for investment and/or state contracting. (https://www.op-f.org/Files/Scrutinized Companies Iran Sudan.pdf); "A group of top Korean business tycoons -- including SK Group chairman Chey Tae-won, GS Group chairman Huh Chang-soo and LS Group chairman Koo Cha-yol -- flocked to the promising Iran market Monday in an attempt to explore new business opportunities in many sectors ranging from energy to infrastructure construction. They landed in Teheran, capital of the oil-rich Middle Eastern country, with the Korean economic delegation composed of representatives from 236 companies and institutions. The delegation is accompanying President Park Geun-hye who is on a three-day state visit to Iran until Tuesday… LS Group, a global leading power cable supplier, said the group head has an interest in exploring power-related infrastructure restoration and construction projects. In contrast with the cautious approach of corporates about striking business deals in a new market full of uncertainties, the Korean government was confident that trade and investment with Iran will be lifted to the pre-sanction levels. 'The two heads of state agreed on cooperation and exchanges both in economic and noneconomic areas,' Cheong Wa Dae said in a statement released after the historic summit meeting between President Park and her Iranian counterpart Hassan Rouhani. In the economic sector, private and public corporate delegation members are expected to sign memoranda of understanding for 66 infrastructure-related construction projects ranging from rails to power plants to hospitals. In return for hiring Korean contactors, Seoul has a plan to increase its daily crude imports from Iran to around 280,000 barrels from 115,000 barrels last year." (The Korea Herald, “Tycoons in search of growth in Iran,” 5/2/2016) (http://www.koreaherald.com/view.php?ud=20160502000871) |
JNK Heaters Co.
| Name: | JNK Heaters Co. | | Type: | Company | | Name: | JNK Heaters Co. | | Country: | kr | | Topics: | export.risk | | Website: | http://www.jnkheaters.co.kr/ | | Notes: | In 2017 JNK Heaters was removed from Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because "there is no recent evidence that indicates that the company meets criteria." (https://www.patreasury.gov/pdf/divestment/2017-Annual-Divestment-Report.pdf); JNK Heaters Co., Ltd. is listed as an exhibitor at the 23rd International Oil, Gas, Refining and Petrochemical Exhibition (“IOGRPE”), which took place at the Tehran International Permanent Fairground on May 6-9, 2018. (Iran Oil Show 2018 Website, “Exhibition”). (http://iran-oilshow.ir/Files/Data/Oil show Exhibitor list.pdf); In 2014, JNK Heaters was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996. (https://www.patreasury.gov/pdf/divestment/2014-Annual-Divestment-Report-print.pdf); As of August 1, 2019, JNK Heaters is listed as ineligible to enter into a contract with the Commonwealth due to Iran business relations. (Pennsylvania Department of General Services, "Iran Free Procurement List"). (https://www.dgs.pa.gov/Documents/Procurement Forms/ProposedIranFreeProcurementList.pdf); As of June 8, 2020, JNK is listed on the Pennsylvania Department of General Services Iran Free Procurement List. Entities included on this list are ineligible to enter into a contract with the Commonwealth of Pennsylvania for goods and services worth at least $1,000,000 per sections 3501-3506 of the Commonwealth Procurement Code, 62 Pa. C.S. §§ 3501-3506. (https://www.dgs.pa.gov/Documents/Procurement Forms/ProposedIranFreeProcurementList.pdf) |
Hanjin Shipping
| Name: | Hanjin Shipping | | Type: | Company | | Name: | Hanjin Shipping | | Country: | kr | | Topics: | export.risk | | Website: | http://www.hanjin.com/ | | Notes: | "So despite concerns over regulation and reputation, that opportunity explains the caravan of container carriers that started resuming service to Iran back in January. The Iranian port at Bandar Abbas now welcomes ships from Evergreen, Hyundai, OOCL, Hanjin, “K” Line, KMTC, X-Press, Yang Ming, and many more..." (Global Trade, "Transportation/Logistics:Iran is Back Open for Business," 11/1/2016). (http://www.globaltrademag.com/global-logistics/transportationlogistics-iran-back-open-business); Uses Tidewater Middle East Co.’s private terminals in the Shahid Rajaee Port Complex. (Tidewater: Reflection of Tomorrow) (http://mytcts.com/MYTCTS_Static/Introduction/Files/TidewaterProfile.pdf); Listed by the Iranian Ports and Maritime Organization as doing business with the Iranian Mazand Darya and Daryaye Abijonod. (Ports & Maritime Organization: Companies Affairs Department: Liners) (http://portaffairs.pmo.ir/companiesaffairsdepartment-liners-en.html); "Container lines are racing to initiate services to Iran following the nuclear accord... Some Asian lines — including Hyundai Merchant Marine (HMM), Hanjin Shipping, Yang Ming, Wan Hai and PIL — are ahead of the game, having already reinstated services that were mostly cut off as a result of Iranian sanctions in 2013. According to Alphaliner, HMM has included Bandar Abbas (Shahid Rajaee) in its South Korea-to-East Asia-to-Middle East 'KMS' service since April, deploying seven ships of 6,300 teu to 6,800 teu, while Hanjin and Yang Ming are set to serve Iran this month on two separate services using around 13 ships of 4,000 teu to 8,588 teu." (TradeWinds, "Floodgates to open as lines jockey for position in Iran," 7/31/15) (http://webcache.googleusercontent.com/search?q=cache:pPsMAa_EnDYJ:www.tradewindsnews.com/weekly/365531/floodgates-to-open-as-lines-jockey-for-position-in-iran?show_mobile_site=true &cd=14&hl=en&ct=clnk&gl=us); On June 23, 2011, the U.S. Treasury Department sanctioned Tidewater Middle East Co. (“Tidewater”), Iran’s major port operator, in response to the fact that Tidewater is owned by the IRGC and used by the IRGC for illicit activities including weapons shipments. (U.S. Department of the Treasury Press Center, “Treasury Sanctions Major Iranian Commercial Entities,” 6/23/11) Tidewater is also sanctioned by the EU for being owned or controlled by the IRGC. (Official Journal or the European Union: Council Regulation (EU) No 267/2010) (http://www.treasury.gov/press-center/press-releases/Pages/tg1217.aspx) (http://www.treasury.gov/press-center/press-releases/Pages/tg1217.aspx) (http://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2012:088:0001:0112:EN:PDF); Declared bankruptcy in 2017; "South Korea's government said the country's top two shippers, Hanjin Shipping Co Ltd and Hyundai Merchant Marine Co Ltd, had ended direct shipments to Iran in May, with the Middle Eastern nation's economy already reeling from measures imposed by the West to curb its nuclear programme. Hyundai Merchant will also cease so-called trans-shipments of freight ultimately destined for or originating in Iran from June 15, while Hanjin halted such business on June 8, the marine, energy, finance and foreign affairs ministries said in a joint statement on Tuesday. Hanjin and Hyundai Marine, the only two South Korean shippers that had been dealing with Iran, both confirmed the government statement, saying they were cooperating in efforts against Iran's nuclear programme." (Reuters, "S.Korea shippers join overseas rivals in shunning Iran business," 6/10/2013) (http://www.reuters.com/article/2013/06/11/iran-korea-shipping-idUSL3N0EN0L820130611); Hanjin has offices in Tehran and Bandar Abbas.
--
"South Korean shipyard Hanjin Heavy Industries [in September 2009] said it had been forced to put up for sale three container ships ordered at a cost of £60 million ($100 million) by the Iranian state shipping line after the Iranians said they could not pay the bill." (Daily Mail, "Revealed: The ghost fleet of the recession anchored just east of Singapore," 9/28/09)
(http://www.hanjin.com/eservice/en/ofnt/officeNetworkMain.do?cnt_cd=IR) (http://www.dailymail.co.uk/home/moslive/article-1212013/Revealed-The-ghost-fleet-recession-anchored-just-east-Singapore.html#ixzz0TGLHxNpD); "Saeidi said Hanjin’s receivership had created “a little bit of a good market” for IRISL, because “now the (Hanjin) customers are approaching us to provide services from South Korea, China to Iran.” (October 2016) (http://gcaptain.com/iran-shipping-lines-sees-business-back-to-normal-in-mid-2017/); "Deputy Head of Trade Development Organization of South Korea Kiman Nam and Managing Director of Iran's Ports and Maritime Organization Mohammad Saeednejad, in a meeting in Tehran on Sunday, discussed ways for increased presence of South Korean vessels in Iranian waters. Managing Directors of South Korean Hyundai, Pan Ocean and Hanjin shipping lines who took part in the meeting highlighted boosting the mutual cooperation on ports, sea and shipping lines. The Iranian official, on his part, said the country is ready to work with South Korean companies, and added Iran is ready for a shipping line agreement with the country. The South Korean official, for his part, said his country is ready for bolstering naval and port cooperation with Iran. Late in January, Iranian Parliament Speaker Ali Larijani and his South Korean counterpart Kang Chang-hee, in a meeting in Tehran, voiced their capitals' willingness to open new avenues for expansion of their bilateral relations in all spheres. The volume of non-oil trade transactions between Iran and South Korea stood at $6.2 billion in 2012.” (Fars, “Iran, South Korea to Enhance Maritime Cooperation,” 3/10/14) (http://www.unitedagainstnucleariran.com/company/hyundai-merchant-marine) (http://english.farsnews.com/newstext.aspx?nn=13921219001138); Listed by the Iranian Ports and Maritime Organization as doing business with the Iranian Pars Mesina. (Ports & Maritime Organization: Companies Affairs Department: Liners) (http://portaffairs.pmo.ir/companiesaffairsdepartment-liners-en.html); - |
Hyundai Motor Company
| Name: | Hyundai Motor Company | | Type: | Company | | Name: | Hyundai Motor Company | | Country: | kr | | Topics: | export.risk | | Website: | http://worldwide.hyundai.com/ | | Notes: | On May 15, 2020, the IPERS identified Hyundai Motor on its Iran Prohibited Companies List. (https://www.ipers.org/sites/default/files/IPERS' Iran Prohibited Companies 2Q20.pdf); On February 16, 2021, Iowa Public Employees' Retirement System removed Hyundai Motor from its Iran Prohibited Companies List. (https://www.ipers.org/sites/default/files/IPERS' Iran Prohibited Companies 1Q21.pdf); "The report said that aside from Nissan and Peugeot, such car brands as Chinese Lifan, Mazda, Suzuki, and Hyundai are still being manufactured in Iran." (Trend, "Five reasons why Iran's car manufacturing suffers blow after blow," 11/27/2012) (http://en.trend.az/regions/iran/2092624.html); August 2010: Reports indicated that Hyundai Motors and Kia Motors had shipped a total of 17,000 vehicles to Iran during the first half of the year before suspending their exports. (http://joongangdaily.joins.com/article/view.asp?aid=2924192); Hyundai Rotem in Iran
57.64% owned
Hyundai Rotem is a Korean manufacturer of rolling stock, defense products and plant equipment.; "South Korea's Hyundai Motors, Middle East and Africa office director, Mike Song, signed a production agreement with Iran's Kerman Motors to start production of the Elantra model in the local firm's Kerman production facility, in the south of the country. The deal signed in Kerman on March 13 by representatives of both firms. Saman Firouzi, chief executive of Kerman Motor, said that his firm will also launch Hyundai Accent production line in September 2017. "Our target is to employ 10,000 people by 2019," he added. The company previously agreed with Hyundai at the end of 2016 to begin production of the Hyundai i10 and i20 hatchback models which are likely to go on sale following the Iranian New Year." (Financial Tribune, "Hyundai, Kerman Motor Sign Deal to Produce Elantra in Iran," 3/13/2017). (http://r20.rs6.net/tn.jsp?f=001zQopDFsDDbxH1hExybxmixWX95tBLr-Eq36HO7mTvs4xabLzPOTe_tLkORQuuaHnpJ6mdkEQ11tb3JiY1QIM4ZZmqAi3sDhg0yJodtRk1eA4I_Crf4_nApofXAiWLSkRlqXHKkTWqwY2t-rG2Ko55bqYDl3z3muyxF91RsaK8BQZo1t-8H62KhrKhITgT9tRCKJawBpQiossWgmH-vkz29sjz6ce5WJ5WisfN9dFUQYhz6Oyo7uaK4axLsw8JJCxw86w56svQ1MsMUKatvrJyLvrFujKoW-FyaWQYQAf8AV182JWHxdGn4DRNRpO3_FO&c=iNFu6z_AztDGmIjzXCQGvitVtV3WUmn8-x2mP4Rv2Xi1Buhlpls92Q==&ch=wo2pDA71VcfERkjFMBTQQ5IaYmmAV_uzzf-d9oBmqPGaBozj5MD94Q==); On January 20, 2020, Minnesota SBI listed Hyundai Motor as a scrutinized investment. The managers are explicitly instructed to refrain from purchasing securities on this list. (https://www.leg.state.mn.us/docs/2020/mandated/200121.pdf); As of December 2020, Rhode Island continues to list Hyundai Motor as an Iran scrutinized company for active involvement of at least $50 million in Iran's energy sector. The company sells its vehicles in Iran through Tehran-based Kerman Motors, Assan Motor, and Soroush Diesel Mabna. (Company website, 12/2019). (http://data.treasury.ri.gov/dataset/c56b9795-4c0b-4749-80a8-78418efc1492/resource/9d4e0eae-3bb0-4ed2-977a-db21ad57ea96/download/RhodeIslandIranContract2020.xlsx); However, after U.S. President Donald Trump’s decision to leave JCPOA, Hyundai also prepared itself to end cooperation with the Iranian company Kerman Khodro in the Special Economic Zone, Arg-i Jadid." (Radio Farda, 6/13/2018). (https://en.radiofarda.com/a/mazda-hyundai-leaving-iranian-market/29288201.html); Orders; Hyundai Motor and several of its subsidiaries and affiliates have reported business dealings with Iran, including:; Manufacture
In 2004, the first Iranian-made Hyundai vehicles were produced with local partner Kerman Motor Company. The Hyundai Verna model was initially set at 20,000-30,000 units per annum (upa) with plans to be increased to 100,000 upa. (World Markets Analysis, “First Iranian-Made Hyundai Models Rolled Out in Kerman,” 9/9/04)
The “CKD [Complete Knock Down] assembly facility” with Rayen Vehicle Manufacturing Company (RVMCO) in Tehran manufactures the Hyundai Accent and Elantra. CKD refers to a kit (e.g. engine, transmission, battery, etc.) used by foreign affiliates to assemble manufactured goods.
The Iran Khodro Diesel Co. (IKDC), a manufacturer of commercial vehicles (trucks, buses, minibuses, vans), produces the Hyundai Mighty (Light Truck) and Hyundai Chorus (Minibus). (http://www.rvmco.ir/) (http://worldwide.hyundai.com/hyundai-worldwide.html#select_country) (http://www.ikd-co.com/English/AboutUs_.aspx) (http://www.ikd-co.com/English/Products_.aspx); The company's minority-owned subsidiary Hyundai Wia lists Control Afzar Tabriz Co Ltd as its sales and service agent in Iran. (Company website, 12/2019); U.S. Government Business
Hyundai Motors received over $14.7 million in U.S. government contracts this past decade. (http://www.usaspending.gov/explore?fromfiscal=yes&fiscal_year=2009&contractorid=298163&fiscal_year=&tab=By+Prime+Awardee&fromfiscal=yes&carryfilters=on&Submit=Go); In 2018 the U.S. state of Iowa listed Hyundai Motor on its Iran prohibited companies list rendering Hyundai Motor ineligible for investment and/or state contracting. (https://www.ipers.org/sites/default/files/media/2017 09 Iran Prohibited Companies List 09-30-17.pdf); Hyundai Motor is not listed on IPERS February 2022 Iran Prohibited Companies list. (https://ipers.org/sites/default/files/2022-02/IPERS Iran Prohibited Companies List.pdf); Hyundai Motor is listed on Iowa's June 2020 Iran Divestment list. (https://www.iowaregents.edu/media/cms/2020_Iran_Divestment_Report_1CAF86A03EC16.pdf); "Iran totally imported 51,967 cars in the first half of the current Iranian calendar year (March 21 - September 22). Hyundai with 24,991 cars was the main exporter of cars to Iran in the mentioned period..." (Trend, "Korea’s Hyundai gains lion share of Iran’s car imports market," 11/16/14) (http://en.trend.az/iran/business/2333503.html); Before the implementation of the JCPOA, Hyundai had sold around 20,000 auto part units to Iranian cars annually. (Korea Herald, “Hyundai Motor to resume export of auto parts to Iran in April,” 3/15/2016). (http://www.koreaherald.com/view.php?ud=20160315000806); "South Korea’s Hyundai Motors is consolidating its presence in Iran through a joint production deal with local carmaker Kerman Motor. Under a joint venture deal signed in March 2017, Kerman Motor currently assembles three Hyundai models namely i10, i20 and Accent in the central city of Bam, Kerman Province. Assembly lines of two other models, Elantra and Tucson are to be launched, ILNA quoted Kerman Motor’s marketing manager as saying." (Financial Tribune, "Hyundai Asserting Stronger Presence in Iran Auto Industry," 1/15/18) (https://financialtribune.com/articles/auto/80059/hyundai-asserting-stronger-presence-in-iran-auto-industry); In 2018 and 2019 Hyundai Motor was listed on the Texas Comptroller List of Companies Engaging in Scrutinized Business Operations in Iran. (https://web.archive.org/web/20180304055352/https://comptroller.texas.gov/purchasing/docs/anti-bds.pdf); "Korea’s Hyundai has quietly removed from its main website the details of two companies that represent it in Iran, Asbe Bokhar magazine reported on July 20. Asan and Pakro are reportedly the two representative companies that have disappeared from the website’s list of authorised international Hyundai vendors. Iran’s Kerman Motors and Soroush Diesel Mabna CO remain on the list. Despite the deletion, Asan and Pakro can continue to operate in the field of Hyundai after-sales service in Iran. Both companies confirmed they intended to do so." (BNE, "Hyundai removes two representative companies in Iran from website," 7/20/20). (https://www.intellinews.com/hyundai-removes-two-representative-companies-in-iran-from-website-187817/); In July 2011, the Korean daily JoongAng reported that due to pressure from United Against Nuclear Iran, Hyundai had ceased its exports to Iran for two months in early 2011 but quickly reversed course: "In February, Hyundai Motor and Kia Motors - both affiliates of Hyundai Motor Group - stopped shipping automobiles to Iran after the companies came under pressure from United Against Nuclear Iran (UANI), an American lobby group, for not complying with U.S. sanctions. In April, they reversed track, saying it 'wasn’t right' that they continue to withhold their products from Iranians. It was the first time that the Korean company decided to stop exports due to political pressure from a third party or country." (http://joongangdaily.joins.com/article/view.asp?aid=2938545); September 2006: Reuters reported that Hyundai Motor won a $227 million order to supply vehicles to Iranian government agencies and taxi operators. The models supply included sedans and SUVs. In 2007, it was expected Hyundai would also be rewarded another 8,500-unit order.
(http://gulfnews.com/life-style/motoring/hyundai-motor-wins-227m-car-order-in-iran-1.253742); "In an interview with the parliament-affiliated website, Valiyollah Maleki said June 12, 'Mazda and Hyundai’s interests in the U.S. market are much more than in Iran, and they will not sacrifice their profit for the sake of Iran.'"(Radio Farda, "Mazda, Hyundai Leave Iranian Market, Affecting Cars and Shipping," 6/13/18). (https://en.radiofarda.com/a/mazda-hyundai-leaving-iranian-market/29288201.html); In July 2009, it was reported the auto-manufacturing companies Kerman Khodro and Rain Khodrosazan would introduce Hyundai’s smallest car, the i10. Rain Khodrosazan reportedly also manufactures the Hyundai Avante, Verna and Sonata. (http://www.tehrantimes.com/index_View.asp?code=198606) (http://www.bicc.org.uk/downloads/Eco Focus - Issue No.10.pdf); Hyundai Motor Company is listed on Texas's 2021 Comptroller List of Companies Engaging in Scrutinized Business Operations in Iran. (https://comptroller.texas.gov/purchasing/docs/iran-list.pdf); Exports
Hyundai sells passenger cars through Assan Motors, its exclusive distributor in Iran since 1992. Assan trumpets its “tremendous growth” in recent years. The Hyundai Iran website also features dozens of Iranian dealerships that sell Hyundai vehicles.
Business Monitor’s “Iran Autos Report Q4 2010” (September 2010) reports as of February 2010, Hyundai Motors was only one of six carmakers that have secured license to import cars into Iran. In August 2010, Hyundai reportedly ceased vehicle exports to Iran. (http://www.hyundai.com/IR/EN/CompanyInfomation/LocalCompany/Overview/Overview.htm) (http://www.hyundai.com/IR/EN/CompanyInfomation/LocalCompany/Overview/Overview.htm) (http://www.hyundai.com/ir/en/main/) (http://www.hyundai.com/ir/en/CompanyInfomation/DealerInfo/DealerInfo.htm); "South Korea’s Hyundai resumed cooperation with Iran after the ratification of the Joint Comprehensive Plan of Action (JCPOA) or Tehran’s nuclear deal with world powers, to manufacture its I10, I20, and Accent models in 2017.; Hyundai Motor is listed on the 4Q 2020 Minnesota State Board of Investment List of Unauthorized (Scrutinized) Iran Companies. (https://www.lrl.mn.gov/docs/2021/mandated/210295.pdf); "According to the report, 17 car brands have been permitted to be imported in the current year. The cars include Hyundai (2 models), ABT, Alfa Romeo (2 models), MG, SsangYong, Toyota, Renault (6 models), and Kia (2 models). Previously, 25 car brands were included in the list, such as South Korean brands (Kia and Hyundai), Chinese brands (SAIC motors), Italian brands (Fiat, Alpha Romeo), Japanese brands (Honda, Mitsubishi), German brands (ABT), and Swedish brands (Volvo)." (AzerNews, "Iran bans imports of renowned car brands," 5/27/2013) (http://www.azernews.az/region/54464.html); South Korea's Hyundai Motor Group is looking for a stronger presence in Iran's auto market through better services and improving relations with car buyers, says the chief executive of Kerman Motor Company. "Following Kerman Motor's success in assembling and distribution of Hyundai i10 and i20 and last year's deal to assemble the Accent model, the Korean carmaker is eager to have a bigger footprint in Iran's market," Saman Firouzi said, according to Kerman Motor's website. In March he had said that his firm would launch the Hyundai Accent production line in September." (May 2017) (https://financialtribune.com/articles/economy-auto/65470/hyundai-motor-seeks-bigger-footprint-in-iran); Hyundai Motor's business in Iran can be broken down into exports, manufacture, and orders: |
Korea Shipbuilding & Offshore Engineering Co., Ltd
| Name: | Korea Shipbuilding & Offshore Engineering Co., Ltd | | Type: | Company | | Name: | Korea Shipbuilding & Offshore Engineering Co., Ltd | | Country: | kr | | Topics: | export.risk | | Website: | http://www.ksoe.co.kr/en/ | | Notes: | As of July 1, 2021, Korea Shipbuilding & Offshore Engineering Co is not listed on Mississippi's list of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors. (https://www.dfa.ms.gov/media/2k5llxd4/business-with-iran.pdf); As of October 29, 2021, Korea Shipbuilding & Offshore Engineering Co, the parent company of Hyundai Heavy Industries, is listed on Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. (https://www.patreasury.gov/pdf/divestment/2021-Annual-Divestment-Report.pdf); As of July 2020, KSOE, formerly Hyundai Heavy Industries, remains on the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. (https://www.patreasury.gov/pdf/divestment/2020-Annual-Divestment-Report.pdf) |
Hyosung
| Name: | Hyosung | | Type: | Company | | Name: | Hyosung | | Country: | kr | | Topics: | export.risk | | Website: | http://www.hyosung.com/ | | Notes: | "Hyosung Corporation reportedly has an agreement with Iran's state-run National Petrochemical Company to establish a polypropylene plant in Iran. In 2019, CalSTRS identified Hyosung Corporation as potentially having ties to Iran and began the review process. In 2020, CalSTRS removed Hyosung Corporation as it no longer held any of the company’s securities." (https://www.calstrs.com/sites/main/files/file-attachments/calstrs-investment-reports-2020.pdf?1609284307); "Representatives of Hyosung Corporation, a South Korean industrial conglomerate, visited Iran’s southern Mahshahr Special Petrochemical Economic Zone in Khuzestan province. A delegation from Hyosung Corporation toured Fajr Petrochemical Company (FPC) on Saturday in a bid to explore business and investment opportunities in the economic zone, Shana news agency reported." (Tasnim, "S Korean Delegation Visits Iran’s Southern Petchem Economic Zone," 07/24/2016).; "Earlier reports had suggested that access to RP801, a type of polypropylene used in production of prefillable three-part syringes, including insulin syringes, had become difficult for Iranian manufacturers after South Korea’s industrial conglomerate Hyosung stopped exporting the material to Iran under increasing pressure from the United States." (Fars News, 12/30/2019). (https://en.farsnews.com/newstext.aspx?nn=13981009000549); "Hyosung Corp., South Korea's leading chemical and textile company, is accelerating its foray into Iran, a country rich in natural gas and oil reserves and dubbed as the gateway to other markets in the Middle East, Europe and Africa. According to chemical industry sources on Sunday, Hyosung recently signed a memorandum of understanding (MoU) with Iran's state-run National Petrochemical Company in the business of polypropylene (PP), thermoplastic polymer used in making plastic products and home appliance, products. The Korean company said it has been in talks with its Iranian counterpart to determine the feasibility of its PP business in the country, but has not made any conclusion yet. Industry experts expect Hyosung looking to expand its offshore manufacturing network would set up a PP production base in Iran. The company has inked an agreement with Vietnamese government to build a PP plant at a cost of $336 million in February last year." (Pulse, "Korea's Hyosung Eyes Polypropylene Base In Iran," 4/10/17). (http://pulsenews.co.kr/view.php?year=2017&no=242324); In 2019, CalSTRS identified Hyosung Corporation as potentially having ties to Iran and began the review process. Hyosung Corporation reportedly has an agreement with
Iran's state-run National Petrochemical Company to establish a polypropylene plant in Iran. (https://www.calstrs.com/sites/main/files/file-attachments/calstrs-investment-reports-2019.pdf?1577750493) |
KT Corporation
| Name: | KT Corporation | | Type: | Company | | Name: | KT Corporation | | Country: | kr | | Topics: | export.risk | | Website: | http://www.kt.com/eng/ | | Notes: | "According to media reports, high-ranking officials from such large business groups as SK, Hanjin and KT Corp. have already expressed their wish to join as they are seeking deals in each of their interested areas including energy, airline and telecom." (Yonhap News Agency, “Korean companies anxious to grab bigger share of Iranian boom,” 4/21/2016) (http://english.yonhapnews.co.kr/news/2016/04/21/0200000000AEN20160421002700320.html) |
Hyundai Chemical
| Name: | Hyundai Chemical | | Type: | Company | | Name: | Hyundai Chemical | | Country: | kr | | Topics: | export.risk | | Website: | http://www.hdchemtex.com/eng/main/ | | Notes: | “South Korea, Asia's largest buyer of condensate, will step up purchases of the ultra light oil from Iran by more than 50 percent in June, two sources said, as competitive pricing squeezes out rival oil from Qatar. While South Korea does not provide separate data on imports of condensate, traders said the expected June shipments from Iran of at least six million barrels, or 200,000 barrels a day, would be a record level. Iranian condensate imports could gain further momentum in the fourth quarter, if Iran clinches a deal with Hyundai Chemical to supply the company's new splitter. Talks between Hyundai Chemical and the National Iranian Oil Company (NIOC) on a term supply deal are under way, a third source familiar with the matter said. South Korea, the world's fifth-largest crude buyer, has more than doubled its oil imports from Iran in the first four months of this year to about 248,000 barrrels a day after Western sanctions on Iran were removed in January.” (Reuters, “South Korea's condensate imports from Iran to soar in June,” 6/9/2016) (http://www.reuters.com/article/us-southkorea-iran-oil-idUSKCN0YV0NU); "In November, South Korea's Iranian crude imports more than quadrupled from a year earlier as Hyundai Chemical's new condensate splitter boosted the country's ultra-light oil demand from the Middle Eastern country... South Korea is one of Iran's major oil customers. Seoul imported 14 million tonnes, or 281,187 bpd, of crude from Tehran in 2016, up 145.4 percent from 5.7 million tonnes, or 114,595 bpd, in 2015." (Reuters, "S.Korea's Dec Iran crude imports surge 648.2 pct on year," 1/14/2017). (http://af.reuters.com/article/energyOilNews/idAFL4N1F12ZB?sp=true) |
Hanwha Total Petrochemical
| Name: | Hanwha Total Petrochemical | | Type: | Company | | Name: | Hanwha Total Petrochemical | | Country: | kr | | Topics: | export.risk | | Website: | http://www.hanwha-total.com/EN/main00.aspx | | Notes: | “South Korea, Asia's largest buyer of condensate, will step up purchases of the ultra light oil from Iran by more than 50 percent in June, two sources said, as competitive pricing squeezes out rival oil from Qatar. While South Korea does not provide separate data on imports of condensate, traders said the expected June shipments from Iran of at least six million barrels, or 200,000 barrels a day, would be a record level... Two South Korean buyers, refiners SK Energy and Hanwha Total Petrochemical Co, are set to lift at least six million barrels of Iranian South Pars condensate in June, up from about 3-4 million barrels in April and May, two sources with knowledge of the matter said. A Hanwha spokesman said the refiner planned to import about 2 million barrels of Iranian condensate in June, as it was cheaper than oil from Qatar and the company wanted to diversify its sources of supply.” (Reuters, “South Korea's condensate imports from Iran to soar in June,” 6/9/2016) (http://www.reuters.com/article/us-southkorea-iran-oil-idUSKCN0YV0NU); "South Korea’s Hanwha Total Petrochemical Co Ltd [SMCHE.UL] has increased imports of condensate from the United States and Australia and is seeking more European cargoes to replace Iranian supplies, two industry sources said on Thursday." (8/28/2018) (https://www.reuters.com/article/us-southkorea-hanwha-total/south-koreas-hanwha-total-buys-u-s-australian-condensate-to-replace-iran-oil-idUSKCN1L812T); "Hanwha Total Petrochemical Co. bought alternative supply after a fire on board an Iranian oil tanker that was destined for the South Korean company. Crew members of the vessel were still missing following a collision in the East China Sea with another ship that’s left it in danger of sinking." (January 2018) (https://www.bloomberg.com/news/articles/2018-01-07/iranian-oil-tanker-collides-with-chinese-ship-on-way-to-korea) |
Hyundai Engineering and Construction
| Name: | Hyundai Engineering and Construction | | Type: | Company | | Name: | Hyundai Engineering and Construction | | Country: | kr | | Topics: | export.risk | | Website: | http://en.hdec.kr/main/index.asp | | Notes: | “Construction shares are showing strength on the news of the Iranian government reaching an agreement with six world powers to curb its nuclear activities in return for about $7 billion in sanctions relief, after days of intense talks in Geneva. At 9:18 am on November 25, the shares of Daelim Industrial were traded at 98,000 won, up 4.59 percent from the previous day's 93,700 won. Other construction shares such as Byucksan Engineering & Construction (14.92%), Namkwang Engineering & Construction (12.27%), Daewoo Engineering & Construction (3.23%), Sungjee Co. (3.13%), and Hyundai Engineering & Construction (1.47%) also increased by a large clip. The KOSPI construction industry index rose 2.99 percent, the highest among all other industrial sectors.” (The Korean Economic Daily, “Construction Shares Rise on the Back of Iran Nuclear Deal,” 11/26/13) (http://www.unitedagainstnucleariran.com/company/daewoo-international) (http://english.hankyung.com/news/apps/news.view?c1=02&nkey=201311260205321); “Hyundai Engineering & Construction (Hyundai E&C), the nation’s largest construction firm, has successfully diversified its business portfolio to maintain steady growth in the ever-uncertain global market. Hyundai traditionally focused on civil engineering, but has added power plants and electricity supply networks in recent years. Its diversified business areas ensure that they will complement each other, said the company…Hyundai’s big break in plant making came in 2005, when it completed a gas processor near the South Pars Gas Field in Iran. Worth $1.6 billion, and utilizing 18,300 workers daily, the construction giant finished the project in 35 months, a record for a project that size, according to the company. ‘We became the contractor that many sought for gas processors after the success of the project,’ said the Hyundai spokesman.” (Korea Times, “Hyundai E&C diversifies portfolio,” 4/25/13) (http://www.koreatimes.co.kr/www/news/biz/2014/03/127_134567.html); In 2016, Hyundai Engineering & Construction was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996 and new involvement was identified. (https://www.patreasury.gov/pdf/divestment/2017-Annual-Divestment-Report.pdf); As of July 2020, Hyundai E&C remains on the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. (https://www.patreasury.gov/pdf/divestment/2020-Annual-Divestment-Report.pdf); In 2018 the U.S. state of Iowa listed Hyundai Engineering & Construction on its Iran prohibited companies list rendering Hyundai Engineering & Construction ineligible for investment and/or state contracting. (https://www.ipers.org/sites/default/files/media/2017 09 Iran Prohibited Companies List 09-30-17.pdf); Hyundai E&C is listed on the 4Q 2020 Minnesota State Board of Investment List of Unauthorized (Scrutinized) Iran Companies. (https://www.lrl.mn.gov/docs/2021/mandated/210295.pdf); As of August 15, 2019, the state of Iowa listed Hyundai Engineering & Construction on its Iran scrutinized companies list. (https://www.ipers.org/sites/default/files/media/2017 09 Iran Prohibited Companies List 09-30-17.pdf); “Korean construction firms are paying attention to Iran, the fourth largest client in the global construction market. Responding to the lifting of sanctions against Iran, they are taking swift actions, such as strengthening market survey and preparing to enter the market…Korean construction firms are taking actions behind the curtains while watching international political situations. Hyundai E&C and Daelim, two major constructors in Korea, have operated a local office in Tehran where Korean and Iranian employees work together in order to re-enter the Iranian market at some point. An official from a large construction firm said, ‘Since gaining trust from a client is very important in the Middle East, Korean construction firms have maintained relationships (with Iranian clients) even after sanctions.’ Kwon Myeong-gwang, an ICAK manager in charge of Iran and Kuwait markets, said, ‘Iran is a big market, and projects that couldn’t be embarked on due to economic sanctions may come to the market all at once,’ adding, ‘Construction of oil and gas facilities is promising.’” (The Dong-A Ilbo, “Will thawing sanctions against Iran boost construction business?” 2/2/14) (http://www.unitedagainstnucleariran.com/company/daelim) (http://english.donga.com/srv/service.php3?biid=2014020311818); In 2017 the U.S. state of Pennsylvania, Rhode Island and South Carolina listed Hyundai Engineering & Construction Co., on its Iran scrutinized list for an oil related involvement of at least US $20 million since 1996, rendering Hyundai Engineering & Construction ineligible for investment and/or state contracting. (ttps://www.patreasury.gov/pdf/divestment/2017-Annual-Divestment-Report.pdf) (http://data.treasury.ri.gov/dataset/scrutinzed-companies-list-iran/resource/6936d293-53b5-4223-8f6d-36777bf91c6d) (https://procurement.sc.gov/files/Iran_divestment_122017.pdf); Hyundai Engineering and Construction is listed on the March 1, 2022 Report to the New Jersey Legislature Iran Divestment as a prohibited company. (https://www.nj.gov/treasury/doinvest/pdf/index/Iran_Progress_Report.pdf); On May 15, 2020, the IPERS identified Hyundai E&C on its Iran Prohibited Companies List. (https://www.ipers.org/sites/default/files/IPERS' Iran Prohibited Companies 2Q20.pdf); On January 20, 2020, Minnesota SBI listed Hyundai E&C as a scrutinized investment. The managers are explicitly instructed to refrain from purchasing securities on this list. (https://www.leg.state.mn.us/docs/2020/mandated/200121.pdf); On February 16, 2021, Iowa Public Employees' Retirement System removed Hyundai E&C from its Iran Prohibited Companies List. (https://www.ipers.org/sites/default/files/IPERS' Iran Prohibited Companies 1Q21.pdf); "South Korea’s Hyundai Engineering & Construction said on Monday that it scrapped a 595 billion won ($521 million) deal to build a petrochemicals complex in Iran, saying the Iranian customer’s ability to fund it had been hit by the prospect of U.S. economic sanctions against Tehran." (Reuters, 10/29/2018) (https://www.reuters.com/article/us-hyundaie-c-iran/south-koreas-hyundai-ec-cancels-521-million-petrochemicals-deal-cites-iran-financing-failure-idUSKCN1N30U9); As of October 2019, Hyundai Engineering & Construction remains on the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. (https://www.patreasury.gov/pdf/divestment/2019-Annual-Divestment-Report.pdf); As of December 2020, Rhode Island continues to list Hyundai E&C as an Iran scrutinized company for active involvement of at least $50 million in Iran's energy sector. (http://data.treasury.ri.gov/dataset/c56b9795-4c0b-4749-80a8-78418efc1492/resource/9d4e0eae-3bb0-4ed2-977a-db21ad57ea96/download/RhodeIslandIranContract2020.xlsx) |
Korean Register of Shipping
| Name: | Korean Register of Shipping | | Type: | Company | | Name: | Korean Register of Shipping | | Country: | kr | | Topics: | export.risk | | Website: | http://www.krs.co.kr/ | | Notes: | "Under pressure from lobbying groups campaigning against Iran's nuclear program, some specialized companies that supply the safety certificates required for ships to dock at foreign ports are terminating their dealings with Iran... Iranian tankers in need of safety certificates aren't out of options, as Asian classification societies have stepped into the breach. A spokesman for the Korean Register of Shipping said it provides classification services to a small number of Iranian ships as part of its ongoing contractual responsibilities. The Korean Register is in charge of surveying seven tankers, according to its website." (Wall Street Journal, "Iran's Oil Ships Sail Into Troubled Waters," 6/24/12) (http://professional.wsj.com/article/SB10001424052702304898704577482350310816514.html?mod=googlenews_wsj&mg=reno64-wsj); “KR visited Iran in early August with the aim of obtaining statutory survey status from the Iranian administration; to sign a cooperation agreement with the Iranian Classification society (ICS); and to contract a trilateral agreement between KR, ICS and the Iranian Ports & Maritime Organization (PMO).” (KRS Website, Press Release. “KR Visits Iran For Mutual Cooperation,” September 2009) (http://www.krs.co.kr/kor/html/webzine/sub/SubRead_V2_e.asp?chasu=20&idx=8&gubun=4&lan=E); "Korean Register (KR) and Iranian Classification Society have signed a memorandum of understand to set up a joint venture firm in Tehran to offer plant facility certification and engineering services." (Seatrade Maritime News, "Korean Register forms joint venture with Iranian Classification Society," 5/24/2016).
-- (https://www.seatrade-maritime.com/asia/korean-register-forms-joint-venture-iranian-classification-society); "The last big company doing classification work on Iranian ships, key to securing insurance and ports access, said on Friday it is stopping the work, spelling further difficulty for Iran's shipping, including its oil exports. The Korean Register of Shipping (KR) is the last of the world's top 13 classification societies to halt marine work in Iran following a recent exodus, including Britain's Lloyd's Register, triggered by Western sanctions on Tehran. 'In early August, the Korean Register of Shipping took the decision to stop providing classification services to Iranian ships. All relevant authorities and parties concerned were informed at that time,' KR said in a statement on Friday... In July, KR had sidestepped calls by U.S. pressure group United Against Nuclear Iran to halt its verification work saying it was concerned that vessel safety and marine environment protection could be compromised... IACS members such as Germany's Germanischer Lloyd and France's Bureau Veritas pulled out of Iran after being urged to exit by United Against Nuclear Iran, which includes former U.S. ambassadors on its board and is funded by private donations. The pressure group backs tougher sanctions on Iran. 'We applaud KR for this responsible and significant decision,' a spokesman for the group said on Friday. 'KR has joined other shipping services and countries in forcing Iran's business partners to now assume most all of the shipping risks for their business with the regime." (Reuters, "Iran faces new blow as South Korea firm ends ship work," 9/28/12) (http://www.reuters.com/article/2012/09/28/iran-shipping-korea-idUSL5E8KS79D20120928) |
Hyundai Engineering Co.
| Name: | Hyundai Engineering Co. | | Type: | Company | | Name: | Hyundai Engineering Co. | | Country: | kr | | Topics: | export.risk | | Website: | https://eng.hec.co.kr/ | | Notes: | As of December 2020, Rhode Island continues to list Hyundai Engineering as an Iran scrutinized company for active involvement of at least $50 million in Iran's energy sector. The company lists the Kangan Petro Refining Complex - Phase II Project in Iran as an active project (Company website, 09/2019). (http://data.treasury.ri.gov/dataset/c56b9795-4c0b-4749-80a8-78418efc1492/resource/9d4e0eae-3bb0-4ed2-977a-db21ad57ea96/download/RhodeIslandIranContract2020.xlsx); "Iran's Kerman Motors and South Korea's Hyundai automaker signed a memorandum of understanding (MoU) on Tuesday to jointly produce a car model in Iran, semiofficial Fars news agency reported. The MoU to manufacture a new Elantra model was signed between CEO of Kerman Motors, Saman Firouzi, and director of South Korea's Hyundai Motors for Middle East and Africa Office, Mike Song, in Iran's southern Kerman city." (March 14, 2017). (http://www.xinhuanet.com/english/2017-03/14/c_136128415.htm); An Iranian investment fund signed a deal with Korea's Hyundai Engineering Co on Sunday for a 3 billion euro ($3.2 billion) petrochemical project, which is awaiting financing by Korean banks, the oil ministry's website SHANA said. A subsidiary of the Oil Pension Fund Investment Company signed the agreement which covers the construction of the second phase of the Kangan Petro Refining Company, SHANA reported. "The financing of this project will be finalised within nine months at the rate of 95 percent ... by South Korean banks," said Asghar Arefi, the Iranian official who signed the accord, according to SHANA. Arefi said the first phase of the Kangan project was 30 percent completed with an investment of nearly 120 million euros. Despite the lifting of international sanctions against Iran in January 2016, Iranian officials have complained that remaining U.S. sanctions have frightened away trade partners and robbed Iran of the benefits it was promised under its 2015 nuclear deal with world powers.(Reuters, "Korea's Hyundai Engineering In $3.2 Billion Iran Deal Awaiting Funding," 3/12/2017). (http://r20.rs6.net/tn.jsp?f=001HjC8y20v_CZ_GLwTYw2np6LaNJ84BMrglx8zEKL6qqRTEHXc0HWn-zqknCxgbKdpbRQbE_xeGDNvDW2kCa7Hh2NaU8uGUEXG0QRtUwwLFCmjDOGjDG4IOTjIPQZPzQcdOnVW-Ad72Hn0inWw7YalaSq-C5AhQ5-I57z8ZuKBEErd3eagmt21eoCHQyz60kYy8LDcbc-pjAUaE3fUEPYwGgk_fcWJcxR2SWjNM0IedEM=&c=F-C2OwdaQaHIeQoLVu-XHntUn40Myy4zB6JnHdx9Z3t66XOkl7nQJA==&ch=zUga7j4nrT4D7IkMWdeNlHsBVKiEeZ6QGiFbJNl5hW8K1vJAAtNRcQ==); South Korea's Hyundai Engineering Co. (HEC) signed an agreement on Sunday for financing and constructing the second phase of Kangan Petro Refining Complex -- a major petrochemical and refinery project in southern Bushehr Province. (March 13, 2017). (https://financialtribune.com/articles/energy/61329/hyundai-engineering-in-32-billion-iran-deal); "An official has announced that seven new power plants will be constructed inside the country by Russian and South Korean companies. Mohsen Tarztalab, the General Manager of Iran's Thermal Power Plant Holding (TPPH), described signing of new contracts for designing and construction of new power stations in collaboration with foreign investors during the post-JCPOA era saying 'a Memorandum of Understanding (MoU) has been recently inked with Russian contractor Technoprom energy firm for building a 1400MW power plant in the southern Iranian port city of Bandar Abbas.' ... Moreover, South Korea's Hyundai Engineering Company (HEC) and Korea Electric Power Corp (KEPCO) have signed agreements with Iran over joint construction of three other power generating plants in Zanjan, Qom and Bafgh cities. (Mehr, "Foreign firms to build power houses in Iran," 08/28/2016) |
Korea Development Corporation (KDC)
| Name: | Korea Development Corporation (KDC) | | Type: | Company | | Name: | Korea Development Corporation (KDC) | | Country: | kr | | Topics: | export.risk | | Website: | https://eng.kdc.co.kr/ | | Notes: | In 2018 the U.S. state of Ohio listed KDC as an Iran restricted company rendering KDC ineligible for investment and/or state contracting. (https://www.op-f.org/Files/Scrutinized Companies Iran Sudan.pdf); "On Tuesday, Central Bank of Iran (CBI) and the Korea Development Bank (KDB) signed another MoU to boost their banking ties." (May 2016) (http://www.xinhuanet.com/english/2016-05/04/c_135334525.htm) |
Kangwon Co Ltd
| Name: | Kangwon Co Ltd | | Type: | Company | | Name: | Kangwon Co Ltd | | Country: | kr | | Topics: | export.risk | | Website: | http://www.kwb21.com/_ENG/html/about03.asp | | Notes: | On May 15, 2020, the IPERS identified Kangwon on its Iran Prohibited Companies List. (https://www.ipers.org/sites/default/files/IPERS' Iran Prohibited Companies 2Q20.pdf); --.; As of May 17, 2021, Iowa's Public Employee's Retirement System lists Kangwon on its Iran Scrutinized Companies List. (https://www.ipers.org/sites/default/files/IPERS' Iran Prohibited Companies 2Q21.pdf) |
Hyundai Heavy Industries
| Name: | Hyundai Heavy Industries | | Type: | Company | | Name: | Hyundai Heavy Industries | | Country: | kr | | Topics: | export.risk | | Website: | http://english.hhi.co.kr/Business/Shipbuilding.asp | | Notes: | In 2017 the U.S. state of California listed Hyundai Heavy Industries as a company under review for potentially having entered into a contract to build ships for an Iranian state-owned shipping company. (https://www.calstrs.com/sites/main/files/file-attachments/calstrs_investment_reports_2017.pdf); "None of the firms targeted are based in the United States. Only one name might appear familiar to American consumers: Hyundai Heavy Industries, the world's largest shipbuilder. However, that company has no connection to the similarly named automaker, said Jim Trainor, a spokesman for Hyundai Motor Co. The group United Against Nuclear Iran has criticized Hyundai Heavy Industries for its dealings with Iran and has faulted the Obama administration for failing to put it on the sanctions list." (The Baltimore Sun, "22 companies are listed for alleged Iran ties, sanctions," 9/17/2012) (http://www.baltimoresun.com/news/maryland/bs-bz-iran-companies-20120913,0,3088368.story); On March 24, 2015, Florida State Board of Investments removed Hyundai Heavy Industries from the Iran Continued Examination list during the quarter. (https://www.sbafla.com/fsb/Portals/FSB/Content/GlobalGovernanceMandates/QuarterlyReports/2015/PFIA_Quarterly_Report_3_24_15.pdf?ver=2016-08-10-164152-327); "Iran’s state-owned shipping company is in advanced talks with Korean shipyard Hyundai Heavy Industries Co. for a $650 million order of container ships and tankers, people involved in the talks said, marking Iran’s return to the international market after a decade. The deal may be announced as early as this week and is part of plans by Islamic Republic of Iran Shipping Lines and Iranian Offshore Oil Co., a subsidiary of state oil company National Iranian Oil Co., to spend a total of up to $2.5 billion to modernize their fleets. A Hyundai Heavy spokesman said Monday that Islamic Republic of Iran Shipping Lines, or IRISL, was in talks with the shipyard over a 10-ship order, but gave no details. Iranian shipping companies haven’t modernized their fleets since 2006, when the United Nations imposed wide-ranging sanctions against Tehran over its uranium-enrichment program." (The Wall Street Journal, "Iran Shipping Lines Close to $650 Million Korean Order," 12/5/2016). (http://www.wsj.com/articles/iran-shipping-lines-close-to-650-million-korean-order-1480951570); In 2016, Hyundai Heavy Industries was added to the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement in Iran because of oil-related investment of US $20 million since 1996 and new involvement was identified. (https://www.patreasury.gov/pdf/divestment/2017-Annual-Divestment-Report.pdf); Iranian oil, gas, petrochemical and energy firm, Nirou Taban Spadana Company (“Nirou Taban) claims to sell products of Hyundai Heavy. (http://www.niroutaban.ir/en-us/products.php); In 2020, the U.S. state of Mississippi listed Hyundai Heavy on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting. (https://www.dfa.ms.gov/media/sd1ccddh/businesses-doing-business-with-iran-12-4.docx); As of October 2019, Hyundai Heavy Industries remains on the Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. (https://www.patreasury.gov/pdf/divestment/2019-Annual-Divestment-Report.pdf); "Managing Director of the Islamic Republic of Iran Shipping Lines Mohammad Saeedi said on Saturday the first of 10 new ships ordered by his company from Hyundai Heavy Industries will be delivered in March 2018." (December 2017) (https://financialtribune.com/articles/economy-business-and-markets/78523/hyundai-shipyard-s-1st-delivery-to-iran-in-march); As of October 29, 2021, Korea Shipbuilding & Offshore Engineering Co, the parent company of Hyundai Heavy Industries, is listed on Pennsylvania Treasury's List of Scrutinized Companies Determined as Having Involvement In Iran because of oil-related investment of US $20 million since 1996. Hyundai Heavy Industries is not listed. (https://www.patreasury.gov/pdf/divestment/2021-Annual-Divestment-Report.pdf); In 2017 the U.S. state of Pennsylvania, Mississippi, South Carolina and Tennessee listed Hyundai heavy., on its Iran scrutinized list for an oil related involvement of at least US $20 million since 1996, rendering Hyundai Engineering & Construction ineligible for investment and/or state contracting. (https://www.patreasury.gov/pdf/divestment/2017-Annual-Divestment-Report.pdf) (http://www.dfa.ms.gov/media/4100/companies-posted.pdf) (https://procurement.sc.gov/files/Iran_divestment_122017.pdf) (https://www.tn.gov/content/dam/tn/generalservices/documents/cpo/cpo-library/public-information-library/List_of_persons_pursuant_to_Tenn._Code_Ann._12-12-106_Iran_Divestment_Act_updated_7.7.17.pdf); "The company, through a sub-holding company, was reported as potentially having entered into a contract to build ships for an Iranian state-owned shipping company. CalPERS moved the company into “monitor” status in 2018. News reports in 2018 cite a source at the company as confirming no ships have been delivered under the contract, and that “it is impossible for [the company] to deliver the ships with U.S. sanctions back in position.” CalPERS has maintained the company in “monitor” status for 2020. CalPERS continues to monitor the company for possible changes in status relevant to the Act." (https://www.calpers.ca.gov/docs/forms-publications/iran-sudan-divestment-2020.pdf); Hyundai Heavy Industries Co. received a $700 million order to build 10 ships for Iran’s state-owned shipping company in a deal that signifies the Middle Eastern country’s return to the international market after a decade. The deal is part of plans by Islamic Republic of Iran Shipping Lines and Iranian Offshore Oil Co., a subsidiary of state oil company National Iranian Oil Co., to spend a total of up to $2.5 billion to modernize their fleets. Iranian shipping companies haven’t modernized their fleets since 2006, when the United Nations imposed wide-ranging sanctions against Tehran over its uranium-enrichment program... “This marks Iran’s first ship order since international sanctions were lifted early this year. Hyundai plans to provide technical support for Iran to run its shipyards as well,” the South Korean company said Sunday. (Wall Street Journal, "Hyundai Heavy Gets $700 Million Deal to Build 10 Ships for Iran Shipping Lines," 12/10/2016). (http://www.wsj.com/articles/hyundai-heavy-gets-700-million-deal-to-build-10-ships-for-iran-shipping-lines-1481426229); In 2007, HHI received a $54 million contract to upgrade a refinery owned by the National Iranian Oil Engineering and Construction Co, a state-owned entity. And as recently as 2009, HHI received a contract to provide six high-pressure pump units to outfit an Iranian power plant. (http://english.hhi.co.kr/press/news_view.asp?idx=414&page=1&search=title&keyword=Iran) (http://english.hhi.co.kr/press/news_view.asp?idx=414&page=1&search=title&keyword=Iran) (http://english.hhi.co.kr/press/news_view.asp?idx=502&page=1&search=title&keyword=Iran); HHI owns a controlling stake in the Hyundai Corporation, a general trading company specializing in a wide variety of shipping, industrial, chemical, and electrical products. Hyundai Corp signed a $1.9 billion contract to provide Iran with materials “in the fields of shipbuilding, machinery, steel & metal, chemicals, home appliances, etc.” Hyundai Corp’s Tehran Office website contains a Major Products section, which contains a litany of sensitive products with wide applicability in the Iranian energy, petroleum, and even defense industries. This products include: oil tankers, LNG carriers, diesel engines, signaling systems, optical cables, conductor wires, high voltage cables, transmission cables, steel, aluminum, zinc, polypropylene, other chemicals, and consumer electronics. (http://english.hhi.co.kr/press/news_view.asp?idx=521&page=9) (http://www.hyundaicorp.com/eng/global/brench_main.asp?sOffice_id=39) (http://www.hyundaicorp.com/eng/global/prd_main.asp?sOffice_id=39); In 2005, HHI together with Daewoo Shipbuilding received a $1 billion contract from the state-owned National Iranian Oil Tanker Co to build 10 oil tankers (Bloomberg). At the contract’s issuance, NIOTC officials planned to order another 35 vessels for 2010; the status of this order is unknown. Each tanker is capable of carrying 2 million barrels of crude, providing a massive increase in shipping capacity for the Iranian petroleum industry. (http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a9ztgWk9Vs5g&refer=asia); Hyundai Oilbank and Hyundai Corporation are subsidiaries of Hyundai Heavy. (http://unitedagainstnucleariran.com/company/hyundai-oilbank) (http://unitedagainstnucleariran.com/company/hyundai-corporation); Hyundai Heavy Industries is the world's largest shipbuilder, with a 15% world market share. It also manufactures a variety of industrial, construction, and electrical equipment (Company Website). (http://english.hhi.co.kr/about/msg); "In December 2016, signed a $760 million contract with the Islamic Republic of Iran Shipping Lines (IRISL) to build four 14,500 20-foot equivalent unit (TEU) container ships and six 49,000-ton tankers for petrochemical products; tankers were built by its affiliate, Hyundai Mipo Dockyard; is taking a “wait-and-see approach” noting that it will be impossible to deliver the ships to Iran under U.S. sanctions." ("Mazda, Hyundai Leave Iranian Market, Affecting Cars and Shipping," Radio Farda, June 13, 2018. (https://en.radiofarda.com/a/mazda-hyundai-leaving-iranian-market/29288201.html); Hyundai Heavy Industries has received numerous contracts to provide manufactured goods to Iran over the past six years. In 2004, HHI received an $18 million contract to provide construction equipment including excavators and wheel loaders to assist in the development of Iran's South Pars gas field. (http://english.hhi.co.kr/press/news_view.asp?idx=255&page=1&search=title&keyword=Iran); In 2016 Tennessee used the South Carolina list of "Entities Ineligible to Contract with the State of South Carolina or any Political Subdivision of the State per the Iran Divestment Act of 2014, S.C. Code Ann." as its list of persons it determines engage in investment activities in Iran. Hyundai Heavy was included on this list in 2016. "Inclusion on this list would make a person ineligible to contract with the state of Tennessee, if a person ceases its engagement in investment activities in Iran, it may be removed from the list." (https://www.tn.gov/content/dam/tn/generalservices/documents/cpo/cpo-library/public-information-library/List of persons pursuant to Tenn. Code Ann. 12-12-106 Iran Divestment Act.pdf); "Iran said on Saturday that a deal has been reached with South Korea to launch a joint shipbuilding venture between the two countries. The venture will be established between Iran Shipbuilding and Offshore Industries Complex Company (ISOICO) and Hyundai, IRNA reported. ISOICO Managing Director Hamid Rezaian has emphasized that the related consultations as well as key agreements for the move have already been taken care of... Rezaian had announced in late November that ISOICO is looking into partnerships with major international shipbuilders including Hyundai and Germany's Nordic Yards Wismar." (Press TV, "Iran, South Korea to launch shipbuilding JV," 12/5/15) (http://t.uani.com/1XWdq0u); As of July 1, 2021, Korea Shipbuilding & Offshore Engineering Co is not listed on Mississippi's list of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors. (https://www.dfa.ms.gov/media/2k5llxd4/business-with-iran.pdf) |
Posco Daewoo
| Name: | Posco Daewoo | | Type: | Company | | Name: | Posco Daewoo | | Country: | kr | | Topics: | export.risk | | Website: | https://www.daewoo.com/eng/ | | Notes: | As of August 15, 2019, the state of Iowa listed Posco Daewoo on its Iran scrutinized companies list. (https://www.ipers.org/sites/default/files/media/2017 09 Iran Prohibited Companies List 09-30-17.pdf); As of May 17, 2021, Iowa's Public Employee's Retirement System lists Posco Daewoo on its Iran Scrutinized Companies List. (https://www.ipers.org/sites/default/files/IPERS' Iran Prohibited Companies 2Q21.pdf); Daewoo International is a subsidiary of South Korean Steel Company POSCO (http://www.unitedagainstnucleariran.com/company/posco); In 2018 the U.S. state of Iowa listed Posco Daewoo as an Iran restricted company rendering Posco Daewoo ineligible for investment and/or state contracting. Combine with the Daewoo page.; Company website lists branch in Tehran, Iran as part of its "Global Network." (Company website) (http://www.daewoo.com/english/index.jsp); "Posco Daewoo, along with Hyundai Engineering & Construction (E&C), signed a deal with Iran's Ministry of Health and Medical Education to build a hospital for Shiraz University of Medical Sciences, one of the country's top medical schools. Posco Daewoo will supply medical equipment, while Hyundai E&C will be responsible for construction.” (Korea JoongAng Daily, “Posco signs deals to export its tech to Iran,” 4/29/2016) (http://koreajoongangdaily.joins.com/news/article/article.aspx?aid=3018110&cloc=joongangdaily|home|newslist1); "Daewoo International maintains an office in Iran, according to its website. It is an international trading company involved in everything from chemicals to construction. Daewoo Corporation won construction contracts from the U.S. Army Corps of Engineers while Daewoo International fell under its corporate umbrella. Daewoo International was subsequently spun off and today is a separate company." The company received $10.4 million from the US government for their investments in Iran during 2000-2009. Their business in Iran is currently active. (The New York Times, "Profiting from Iran, and the US," 3/6/2010) (http://www.nytimes.com/interactive/2010/03/06/world/iran-sanctions.html); Daewoo International reportedly participating in the Iran Mines & Mining Industries Summit, being held in Tehran May 31-June 1, 2015. (IMIS Website, “List of companies participating in IMIS”) (http://www.imis2015.com/index.php/list-of-companies-approved-their-participation.html) |
Mando Corp
| Name: | Mando Corp | | Type: | Company | | Name: | Mando Corp | | Country: | kr | | Topics: | export.risk | | Website: | https://www.mando.com/eng/ | | Notes: | According to its websites, Iranian automotive parts and manufacturing firms, Crouse and EZAM have apparent business ties to Mando. (http://crouse.ir/list/partnersen/1) (https://ezamco.ir/En/StaticPages/Page.aspx?tid=74&mid=241) |
Korea Petrochemical Industrial Company (KPIC)
| Name: | Korea Petrochemical Industrial Company (KPIC) | | Type: | Company | | Name: | Korea Petrochemical Industrial Company (KPIC) | | Country: | kr | | Topics: | export.risk | | Website: | http://www.kpic.co.kr/eng/ | | Notes: | "[L]eading companies from South Korea and Taiwan preferred to offer their quality polymeric products in Iran Mercantile Exchange (IME) to open the gate to the country's lucrative market... Korea Petrochemical Company [was] accepted by the IME to offer [its[ products in this market... Heavy Polyethylene grade P600BL from Korea Petrochemical Company were the items which were presented in petrochemical hall of the IME." (Fars, "South Korea, Taiwan Offer Polymeric Products in Iran Mercantile Exchange," 10/11/2014) (http://english.farsnews.com/newstext.aspx?nn=13930719001219) |
K-Sure (Korea Trade Insurance Corporation)
| Name: | K-Sure (Korea Trade Insurance Corporation) | | Type: | Company | | Name: | K-Sure (Korea Trade Insurance Corporation) | | Country: | kr | | Topics: | export.risk | | Website: | https://www.ksure.or.kr/en/index.do | | Notes: | "Minister of Economic Affairs and Finance has confirmed local media reports of an imminent South Korean $13 billion credit line to support Iranian projects–a measure, which if finalized, will mark the biggest instance of foreign finance for the country since the implementation of the nuclear accord in January 2016,...Almost all the key details of the credit line have been reportedly agreed upon, and the Korean government has given the green light, based on which $8 billion will be provided by Export–Import Bank of Korea (KEXIM) while the Korea Trade Insurance Corporation (K-SURE) will account for the rest." (June 2017) (https://financialtribune.com/articles/economy-business-and-markets/66539/iran-says-13b-korean-finance-imminent); "Iran has been cut off from paying for South Korean imports with the United States re-imposing sanctions, and South Korea is concerned that the Korea Trade Insurance Corporation (KTIC) may be on the hook for compensation payouts for the losses sustained by South Korean companies." (October 23, 2018) (http://koreabizwire.com/korea-trade-insurance-corporation-at-risk-due-to-iran-sanctions/126344) |
Korea Gas Corporation (KOGAS)
| Name: | Korea Gas Corporation (KOGAS) | | Type: | Company | | Name: | Korea Gas Corporation (KOGAS) | | Country: | kr | | Topics: | export.risk | | Website: | http://www.kogas.or.kr/en | | Notes: | On January 3, 2017, the National Iranian Oil Company (“NIOC”) listed KOGAS as one of the “designated 29 non-Iranian companies [] qualified to participate in its pending tender round for upstream projects.” (Oil & Gas Journal Website, “NIOC qualifies 29 firms for tender round,” 1/3/2017). (http://www.ogj.com/articles/2017/01/nioc-qualifies-29-firms-for-tender-round.html); As of August 15, 2019, the state of Iowa listed Korea Gas on its Iran scrutinized companies list. (https://www.ipers.org/sites/default/files/media/2017 09 Iran Prohibited Companies List 09-30-17.pdf); In the day, National Iran Gas Exports Company and the Korean Gas Corporation signed a memorandum of understanding (MoU), under which Iran would export liquefied natural gas to South Korea, and the two countries would cooperate on exchanging related experiences in the gas industry. (May 4, 2016). (http://www.xinhuanet.com/english/2016-05/05/c_135334640.htm); As of December 2020, Rhode Island continues to list Korea Gas as an Iran scrutinized company for active involvement of at least $20-50 million in Iran's energy sector. The company's subsidiary, Korea Gas Technology Company, along with other South Korean companies has signed an agreement with the National Iranian Gas Company to build a small scale liquefied natural gas plant in Iran. (Business Standard, 06/19/2017) (http://data.treasury.ri.gov/dataset/c56b9795-4c0b-4749-80a8-78418efc1492/resource/9d4e0eae-3bb0-4ed2-977a-db21ad57ea96/download/RhodeIslandIranContract2020.xlsx); In 2017 the U.S. state of South Carolina and Tennessee listed Korea Gas as an Iran restricted company rendering Korea Gas ineligible for investment and/or state contracting. (https://procurement.sc.gov/files/Iran_divestment_122017.pdf) (https://www.tn.gov/content/dam/tn/generalservices/documents/cpo/cpo-library/public-information-library/List_of_persons_pursuant_to_Tenn._Code_Ann._12-12-106_Iran_Divestment_Act_updated_7.7.17.pdf); On November 13, 2020, Korea Gas Corp was removed from the Iowa Public Employees' Retirement System Iran Prohibited Companies List. (https://www.ipers.org/sites/default/files/IPERS' Iran Prohibited Companies 4Q20 (1).pdf); "Iran on Monday awarded a deal to South Korean's energy giant KOGAS over the development of one of its key gas fields in the Persian Gulf. Rokneddin Javadi, the managing director of the National Iranian Oil Company (NIOC), has been quoted by the media as saying that KOGAS will as per the deal conduct technical studies of Balal gas field. Javadi added that the South Korean energy company will then present its proposals over the development of Balal project to the NIOC. The proposals, he said, will also include the possibility of using the gas from the field to produce liquid natural gas (LNG). The Korean company had earlier signed a basic agreement with the NIOC over the production of LNG, its marketing as well as the transfer of its experiences to Iran in the same area. A separate agreement had also been signed over providing engineering services for the construction of two key gas pipelines for Iran - Iran Gas Trunk-Line 7 (IGAT 7) and Iran Gas Trunk-Line 9 (IGAT 9)." (Press TV, “KOGAS wins deal over Balal gas field,” 5/2/2016) (http://www.presstv.ir/Detail/2016/05/02/463645/KOGAS-wins-deal-over-Balal-gas-field/); "State-run Korea Gas Corp (KOGAS) , the world’s second-largest single buyer of liquefied natural gas (LNG), is interested in Iranian and U.S. natural gas as LNG imports from the two countries are seen possible without destination restrictions, its chief executive said on Friday." (February 2017) (https://www.reuters.com/article/southkorea-lng-kogas/kogas-interested-in-iranian-u-s-natural-gas-to-secure-stable-supply-idUSL4N1FU5UY); In 2018 the U.S. state of Iowa listed Korea Gas Corporation on its Iran prohibited companies list rendering Korea Gas ineligible for investment and/or state contracting. (https://www.ipers.org/sites/default/files/media/2017 09 Iran Prohibited Companies List 09-30-17.pdf) |
DK Tech Corporation (DK-LOK)
| Name: | DK Tech Corporation (DK-LOK) | | Type: | Company | | Name: | DK Tech Corporation (DK-LOK) | | Country: | kr | | Topics: | export.risk | | Website: | http://www.dklok.com/eng/index.php | | Notes: | "DK-Lok (105740), a fitting and valve manufacturer, said on Sept. 6 that it has signed a contract worth 827.9 million won (US$749,470) with Iran’s Gostaresh Niko Shimeh to supply tube fitting and instrumentation tubing. The supplied equipment will be used for developing a gas field. " (September 2016) (http://www.dklok.com/customer-center/distributor/); Lists Gostaresh Niko Shimeh Co. Ltd as a distributor on its company website. (http://www.koreaherald.com/view.php?ud=20160906000774); In 2020, the U.S. state of Mississippi listed DK-Tech on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting. (https://www.dfa.ms.gov/media/sd1ccddh/businesses-doing-business-with-iran-12-4.docx); On December 17 2010, the Wall Street Journal reported that DK Tech Corp signed a deal to help develop Iran's South Pars gas field: "Korea's DK Tech Corp. (105740.KQ) has signed a small deal for projects in a giant Iranian natural gas field, the oil and gas equipment maker said in a corporate filing Thursday, as Asian suppliers replace U.S. and European companies amid mounting sanctions. In a disclosure to the Korean stock exchange, DK Tech said it had signed a contract worth EUR598,000 to supply phases 17 and 18 of the South Pars field until July 15, 2011. The operators of the world's largest non-associated gas field, which Iran shares with Qatar, have struggled to source technologies after Western companies stopped supplies to comply with sanctions over the country's nuclear program. DK didn't disclose what equipment it would sell to Iran but it normally sells valves and tube fittings for the oil and gas sector, among other industries" (Wall Street Journal, South Korea's DK Tech Signs Deal for Iran Gas Field, 12/17/10). (http://online.wsj.com/article/BT-CO-20101217-702700.html); DK Tech Corporation is an instruments manufacturer serving the petrochemical, offshore drilling, power generation, and shipbuilding industries. DK Tech Corp specializes in semiconductors, fittings, valves, and other analytical and process instruments. It is an official vendor to ExxonMobil, Shell, and Petronas (Company Website). (http://www.dklok.com/eng/greeting.php); Lists Gostaresh Niko Shimeh Co. Ltd as a distributor on its company website. (http://www.dklok.com/customer-center/distributor) |
Elyon Industry
| Name: | Elyon Industry | | Type: | Company | | Name: | Elyon Industry | | Country: | kr | | Topics: | export.risk | | Website: | http://www.elyonindustry.com/ | | Notes: | "We are so glad to announce that we Elyon took a challenging step to secure a bridgehead in Iran Automotive parts. Till now, we are responding customer's inquiries and requirements and we trust that we will soon achieve our goal. Please be kind to wish our good luck and success in this market." (January 15, 2018) (http://www.elyonindustry.com/pw_board/CustomerCenterRead.php?board_id=notice&mother_uid=136); Elyon is listed as a participant in the 12th Auto Parts International Fair 2017 (“IAP Fair”), which took place in Tehran, Iran on November 13-16, 2017. (IDRO Fairs Website, “IAPEX 2017 – List of International Participants”). (http://www.idro-fairs.com/uploads/files/file/IAPEX_2017_Participants_Intl_1.pdf) |
EUKOR Car Carriers Inc.
| Name: | EUKOR Car Carriers Inc. | | Type: | Company | | Name: | EUKOR Car Carriers Inc. | | Country: | kr | | Topics: | export.risk | | Website: | https://www.eukor.com/ | | Notes: | According to publicly accessible ship-monitoring data, since January 1, 2016, vessels for which EUKOR is the Operator have called at Iranian ports. |
Emart
| Name: | Emart | | Type: | Company | | Name: | Emart | | Country: | kr | | Topics: | export.risk | | Website: | http://www.emart.com/ | | Notes: | "A memorandum of understanding on electronic trade and joint investments in hypermarkets and small chain stores was signed between South Korea’s largest retailer Emart and Iran’s Refah Chain Stores Company on Wednesday. “Among the aims pursued is developing production of Korean items in Iran with a focus on technology transfer and raising the quality of domestic products,” ISNA quoted Refah’s CEO, Farshid Golzadeh Kermani, as saying. According to Golzadeh, the two sides plan to invest in joint-brand hypermarkets and stores. The size of investment has yet to be disclosed." (June 16, 2016) (https://financialtribune.com/articles/economy-business-and-markets/43700/emart-refah-mou) |
Export Import Bank of Korea (Korea Eximbank)
| Name: | Export Import Bank of Korea (Korea Eximbank) | | Type: | Company | | Name: | Export Import Bank of Korea (Korea Eximbank) | | Country: | kr | | Topics: | export.risk | | Website: | https://www.koreaexim.go.kr/site/main/index002 | | Notes: | "We engage in business related to Iran, including transactions involving as counterparties Iranian banks that may be indirectly owned or controlled by the Iranian government. The U.S. State Department has designated Iran as a state sponsor of terrorism, and U.S. law generally prohibits U.S. persons from doing business in Iran. We are a Korean bank and our activities with respect to Iran have not involved any U.S. person in either a managerial or operational role and have been subject to policies and procedures designed to ensure compliance with applicable Korean laws and regulations. We believe that our activities related to Iran are not subject to the mandatory sanctions administered or enforced by the United States Government (including, without limitation, Section 104 of the U.S. Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (“CISADA”) and the Iran Financial Sanctions Regulations issued by the U.S. Secretary of the Treasury thereunder (the “IFSR”)).; Our business related to Iran consists solely of extensions of credit and financing provided in connection with exports of Korean goods and services to Iran and our disbursements of Iran-related credits are made directly to Korean suppliers or exporters except certain credits made to Iranian banks. Such activities have involved export-related credits to finance the export contracts of Korean exporters supplying goods and services to Iranian companies, credit line extensions to Iranian banks to finance consumer products exports by Korean exporters, extensions of credit through non-recoursediscounting of export trade bills, and purchases of promissory notes securing export transactions. Our Loans to Iran represented 0.1%, 0.3% and 0.5% of our total assets as of December 31, 2015, 2016 and 2017, respectively, and also represented 0.1%, 0.3% and 0.7% of our Loan Credits as of those respective dates. Our total operating revenues from transactions with Iran in 2015, 2016 and 2017 represented 0.3%, 0.3% and 0.3% of our total operating revenues, respectively.; "Iran has secured its biggest post credit line deal since the Joint Comprehensive Plan of Action, (JCPOA), Iran’s nuclear deal with world powers, in a deal with South Korea, local media have reported. The $9.4 billion deal between South Korea’s Eximbank and Iranian banks was signed in Seoul on August 24." (Radio Farda, "Iran, South Korea Sign Record Deal," 8/27/2017.) (https://en.radiofarda.com/a/iran-south-korea-loan/28699330.html); We are aware, through press reports and other means, of initiatives by governmental entities in the U.S. and by U.S. institutions such as universities and pension funds, to adopt laws, regulations or policies prohibiting transactions with or investment in, or requiring divestment from, entities doing business with Iran, including, without limitation, CISADA and IFSR. It is possible that such initiatives may result in our being unable to gain or retain entities subject to such prohibitions as customers or as investors in our debt securities. In addition, our reputation may suffer due to our association with Iran. Such a result could have significant adverse effects on our business or the price of our debt securities." (6/14/2018; SEC Post Effective Amendment No. 4 to Registration Statement Under Schedule B of the Securities Act of 1933). (https://www.sec.gov/Archives/edgar/data/873463/000119312518192078/d605987dposam.htm) |
Daewoo Engineering & Construction Co.
| Name: | Daewoo Engineering & Construction Co. | | Type: | Company | | Name: | Daewoo Engineering & Construction Co. | | Country: | kr | | Topics: | export.risk | | Website: | http://www.daewooenc.com/eng/ | | Notes: | "Also in May 2016, South Korea's Daewoo Engineering and Construction Co. signed a preliminary $1.5 billion deal for a highway between Tehran and northern Iran. Iran's roads ministry and Bonyad Mostazafan, an Iranian foundation controlled by Khamenei, are partners in the Tehran Shomal Freeway Co. (TSFC), which is in charge of the project. A Daewoo official said the deal was preliminary and nothing had been discussed since May. A source familiar with TSFC affairs said the project is in the technical study phase and no final contract has been signed." (Reuters, "Post-Sanctions Deals with Iranian Firms Linked to Khamenei," 1/19/2017).
(http://www.dailymail.co.uk/wires/reuters/article-4136746/Post-sanctions-deals-Iranian-firms-linked-Khamenei.html); In 2020, the U.S. state of Mississippi listed Daewoo on its state lists of Companies Doing Business with the Iranian Petroleum/Natural Gas, Nuclear and Military Sectors, rendering it ineligible for investment and/or state contracting. (https://www.dfa.ms.gov/media/sd1ccddh/businesses-doing-business-with-iran-12-4.docx); In 2017, the U.S. states of Iowa, Mississippi, Rhode Island, South Carolina ,and Tennessee, and listed Daewoo on its Iran scrutinized companies list rendering Daewoo ineligible for investment and/or state contracting. (https://www.tn.gov/content/dam/tn/generalservices/documents/cpo/cpo-library/public-information-library/List_of_persons_pursuant_to_Tenn._Code_Ann._12-12-106_Iran_Divestment_Act_updated_7.7.17.pdf); "Daewoo Engineering & Construction Co., a major South Korean builder, announced on May 4 that it had meetings with officials at major Iranian contractors and won two tentative deals worth US$11.5 billion (13.29 trillion won) in Tehran on the 3rd to construct a petrochemical plant and road infrastructure. The company signed a memorandum of understanding (MOU) with Bahman Geno Co., a local energy company, to build a large refinery plant for about US$10 billion (11.56 trillion won) along with Hyundai Engineering & Construction... Bahman Geno issued a letter of intent to Hyundai E&C and Daewoo E&C in April for the engineering, procurement and construction (EPC) and financing deal and it will add local companies to carry forward the project according to the Iranian government regulations. Daewoo E&C also signed a MOU for Tehran Shomal Freeway Lot 3 construction." (Business Korea, “Daewoo E&C Signs US $11.5 Billion Worth of MOUs,” 5/5/2016) (http://www.businesskorea.co.kr/english/news/industry/14599-tapping-iranian-market-daewoo-ec-signs-us115-billion-worth-mous) |
Daewoo International
| Name: | Daewoo International | | Type: | Company | | Name: | Daewoo International | | Country: | kr | | Topics: | export.risk | | Website: | http://www.daewoo.com/english/index.jsp | | Notes: | "Daewoo International maintains an office in Iran, according to its website. It is an international trading company involved in everything from chemicals to construction. Daewoo Corporation won construction contracts from the U.S. Army Corps of Engineers while Daewoo International fell under its corporate umbrella. Daewoo International was subsequently spun off and today is a separate company." The company received $10.4 million from the US government for their investments in Iran during 2000-2009. Their business in Iran is currently active. (The New York Times, "Profiting from Iran, and the US," 3/6/2010) (http://www.nytimes.com/interactive/2010/03/06/world/iran-sanctions.html); Company website lists branch in Tehran, Iran as part of its "Global Network." (Company website) (http://www.unitedagainstnucleariran.com/company/posco) (http://www.daewoo.com/english/index.jsp); Daewoo International is a subsidiary of South Korean Steel Company POSCO (http://www.unitedagainstnucleariran.com/company/posco) |
Ace Valves
| Name: | Ace Valves | | Type: | Company | | Name: | Ace Valves | | Country: | kr | | Topics: | export.risk | | Website: | http://www.acevalve.com/ | | Notes: | According to TNC Website, "Ace Valves South Korea is one of the major valve manufacturer in the South Korea. Ace Valves as South Korean manufacturer has a largest sales revenue of valve product with utmost world production technology in Europe, USA, GCC and successful presence in Iranian oil, gas and petrochemical projects since 2007." (https://www.tnciran.com/index.php/en/major/oil-gas-projects/commercial) |
Daewoo Shipbuilding & Marine Engineering (DSME)
| Name: | Daewoo Shipbuilding & Marine Engineering (DSME) | | Type: | Company | | Name: | Daewoo Shipbuilding & Marine Engineering (DSME) | | Country: | kr | | Topics: | export.risk | | Website: | http://www.dsme.co.kr/epub/main/index.do | | Notes: | " The South Korean Daewoo Shipbuilding and Marine Engineering Co. is to establish a shipbuilding company in a joint venture with Iranian state-run companies, Tehran Times daily reported on Tuesday." (January 11, 2017) (http://www.xinhuanet.com/english/2017-01/11/c_135971301.htm); "Major Iranian shipping company Islamic Republic of Iran Shipping Lines and oil producer Iranian Offshore Oil Co. have reached preliminary deals with South Korean shipyards for orders worth around $2.4 billion, people involved in the talks said Tuesday. The agreements are part of Iran’s efforts to make a comeback in global shipping after the lifting of international sanctions earlier this year, but completing the orders will depend on financing that the Iranians haven’t yet secured, the people said. 'The yards are making slots available to the Iranians starting in 2018 and 2019,' one of the people said. 'The Iranians are trying to make the 20% down payments through oil state-to-state deals to finalize the orders.' ... Islamic Republic of Iran Shipping Lines, known as IRISL, operates a fleet of container vessels, bulk carriers and tankers... Iranian Offshore Oil Co., a subsidiary of state oil giant National Iranian Oil Co., is in advanced talks for firm orders of at least five jack-up rigs with Daewoo Shipbuilding & Marine Engineering Co. at around $205 million each, the second person said." (The Wall Street Journal, “Iranian Oil, Shipping Companies Set For $2.4 Billion Ship Deals,” 6/7/2016) (http://www.wsj.com/articles/iranian-oil-shipping-companies-strike-2-4-billion-south-korean-ship-deal-1465289444); "Daewoo Shipbuilding & Marine Engineering (DSME) has won the right to manage Iran's state-run shipbuilder, paving its way into the Middle Eastern nation with huge growth potential. DSME said Monday that it recently signed a memorandum of understanding (MOU) with the Iranian government to run Iran Shipbuilding & Offshore Industries Complex. Under the agreement, DSME will also transfer manufacturing technology to the Iranian shipbuilder. The deal is widely expected to help DSME and other domestic shipbuilders win orders from refiners and other companies in Iran... Iran has been seeking to cooperate with Korean shipbuilders to modernize its aging dockyards... According to DSME officials, the Industrial Development and Renovation Organization of Iran (IDRO), the state-run organization in charge of the nation's strategic industries such as automobiles and shipbuilding, is seeking to form a partnership with the Korean shipbuilder. Among others, IDRO wants to acquire advanced technology and dockyard management knowhow from DSME in order to transform Iran into a shipbuilding industry hub in the Middle East. The organization also requested DSME to invest in Iran to manufacture equipment and intermediary materials." (The Korea Times, “Daewoo Shipbuilding to manage Iranian shipbuilder,” 5/16/2016) (http://www.koreatimes.co.kr/www/news/biz/2016/05/123_204868.html) |
Dowin International Corp
| Name: | Dowin International Corp | | Type: | Company | | Name: | Dowin International Corp | | Country: | kr | | Topics: | export.risk | | Website: | http://www.dowinco.com/common/company/company05.asp | | Notes: | Dowin lists a distribution channel in Iran on its company website. (http://www.dowinco.com/common/company/company05.asp); Dowin International Corp (“Dowin”), was listed as a participant at the 16th International Exhibition of Transportation Urban Services & Related Industries (“ITUF”), which took place at the Tehran International Permanent Fairground from January 2-5, 2019. (ITUF 2019, “Exhibition Profile”). (http://www.avinholding.com/index.php/en/exhibitions/ituf2016) |
E1 Corp
| Name: | E1 Corp | | Type: | Company | | Name: | E1 Corp | | Country: | kr | | Topics: | export.risk | | Website: | http://www.e1.co.kr/Eng/ | | Notes: | "South Korean trader E1 Corp has bought 44,000 mt of LPG from Iran's Petrochemical Commercial Co., possibly the first spot cargo from the Middle Eastern producer to come to Asia this year, after an EU ban on propane and butane trade from Iran brought its exports to a near halt since late last year, market sources said last Friday. The cargo comprising 33,000 mt of refrigerated propane and 11,000 mt butane was purchased via a spot tender by E1 for loading over May 15-25, and will be shipped by PCC on a CFR basis, a source familiar with the matter told Platts... Traders said that this is the first tender issued and awarded by PCC since September last year, which was heard to have also been won by E1... 'I gather Iranian tons reappearing on the market seems to have been the catalyst to Eastern selling,' one market source said, adding that E1 featured as sellers of Contract Price swaps over the last last few days." (Platts, "Iran LPG cargo may be first to come to Asia this year after EU ban - sources," 3/12/13) (http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Oil/27960674) |
Ki Mo LIM
| Name: | Ki Mo LIM | | Type: | Person | | Name: | Ki Mo LIM | | Country: | kr; ca | | Topics: | role.pep | | Family Person: | id : ca-forreps-17fa5bf12d1f709b271935fa462aba258bb1624b; caption : Family; schema : Family; referents : ; datasets : ca_foreign_reps; first_seen : 2026-04-23T19:43:02; last_seen : 2026-08-13T19:43:01; last_change : 2026-04-23T19:43:02; properties : relative : id : ca-forreps-9d4de352c42af39d643636638713532fee426d7c; caption : Jinah CHUN; schema : Person; referents : ; datasets : ca_foreign_reps; origin : inferred; patch; first_seen : 2026-04-23T19:43:02; last_seen : 2026-08-13T19:43:01; last_change : 2026-04-23T19:43:02; properties : country : kr; ca; name : Jinah CHUN; title : Ms; topics : role.rca; target : 1; relationship : Spouse; person : ca-forreps-61ce770bc7bc237dac97b6e5d20ee2661e72f7cc; target : |
Jinah CHUN
| Name: | Jinah CHUN | | Type: | Person | | Name: | Jinah CHUN | | Country: | kr; ca | | Topics: | role.rca |
Wan J. Kim
| Name: | Wan J. Kim | | Type: | Person | | Name: | Wan J. Kim; 金完秀 | | Country: | kr | | Topics: | role.pol; role.pep | | Birth Date: | 1968 | | Birth Place: | Seoul | | Notes: | American politician |
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