Foreign Trade Act Article 6

The competent authority may suspend the export of goods to or import of goods from specific countries or territories or take other necessary measures in the following circumstances:1. In the event of a natural disaster, incident, or war;2. In the event that national security is endangered or public safety is hindered; or3. In the event of a serious shortage of a specific material or a drastic fluctuation in the price thereof on the domestic or international market;4. A serious imbalance in international payments or a threat thereof;5. As required by international treaties, agreements, United Nations resolutions, or international cooperation; or6. In the event that a foreign country uses measures violating international agreements or the principle of fairness and reciprocity to impede exports and imports to this country.Subparagraphs 1 to 4 or subparagraph 6 of the preceding paragraph shall only be applicable when there is an adverse impact or threat to such on the normal development of economy and trade of this country.Consultations or negotiations are required before the competent authority suspends exports or imports or takes other necessary measures pursuant to subparagraph 4 or subparagraph 6 of paragraph 1.The suspension of export/import or other necessary measures taken by the competent authority shall be lifted when causes of the suspension cease to exist.The ratification procedure specified in the preceding article shall apply to any suspension of export/import, or to any other measures as indicated in this article.