By: Huang Chiao-wen, Chiang Yuan-chen and S.C. Chang
Taipei, March 8 (CNA) The Bureau of Foreign Trade (BOFT) said Tuesday it
will not impose any further penalties on a local telecom equipment company that has been put on a sanctions list by South Korea for exporting banned products to North Korea.
Royal Team Corp., along with 29 other corporations, were sanctioned by South Korea earlier in the day. The BOFT said the company was punished in 2008 for exporting strategic high-tech products to North Korea without permits, but has since 2013 not applied for any SHTC (strategic high-tech commodity) export permits.
The BOFT said it was trying to understand why Royal Team Corp. was sanctioned by South Korea, adding that it was perhaps its previous record that caused it to be listed.
“If it is indeed related to the old case, we will not impose any new penalties on Royal Team,” said a BOFT official who declined to be named.