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SEOUL TO EASE CONTROL OF WMD STRATEGIC MATERIALS EXPORTS.
SEOUL, Sept 1 Asia Pulse - Seoul said on Sunday that it will ease control over strategic materials that can be used to make weapons of mass destruction for companies that follow a state-sponsored compliance export program.
The Ministry of Knowledge Economy said the move, which will go into effect on Monday, is designed to get more companies to join the program and reduce red tape for those that are following set standards to prevent shipments of materials that can be used to make weapons of mass destruction.
It said the move will allow companies to cut back on paperwork submitted to the government and extend the companies' export licenses for sensitive materials if they diligently follow guidelines from two years to three years.
At present, there are 42 domestic companies on the program, of which 12 are large conglomerates. The numbers are very small compared to 4,000 firms in the United States, 6,500 in Germany and 1,600 in Japan.
Roughly 62 per cent of the companies are exporters of semiconductors and LCDs, while 9.5 per cent manufacture heavy industrial products and machine tools, the ...
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Source: HighBeam Research, SEOUL TO EASE CONTROL OF WMD STRATEGIC MATERIALS EXPORTS.