Korea in communication with China over Beijing's sanctions on Hanwha Ocean's US-based units

Korea is in communication with China to minimize the impact from Beijing's move to sanction Korean shipbuilder Hanwha Ocean's U.S.-based units, the presidential office said Tuesday. Earlier in the day, China announced it would impose retaliatory measures against Hanwha Ocean's five U.S.-based subsidiaries, accusing them of cooperating with a U.S. investigation targeting China's maritime and shipbuilding industries. "In order to minimize harm, communication and response measures are taking place by activating the Korea-China trade channel," the office said. "It is difficult to predict the possibility of additional sanctions, but we will closely monitor (the situation)." It said the immediate impact from the announcement appears to be limited as Hanwha Ocean does not have many businesses with Chinese companies but noted it would assess whether the measures could impact Seoul's shipbuilding cooperation initiative with the United States. China's measures include prohibiting Chinese individuals and organizations from engaging in transactions or cooperation with the U.S. units of Hanwha.Weiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times