After Russia invaded Ukraine, various economic sanctions, mainly the US and the West, have been followed, and major Western companies are leaving Russia one after another.

Big tech companies such as Apple and Google, and food and beverage companies such as McDonald's and Starbucks have all declared business suspensions in Russia.

Unlike other global apparel companies, Japanese fashion brand Uniqlo, which had announced that it would remain in the Russian market, also announced the end of its local business.



It is Russian consumers who have been hit immediately by the departure of foreign companies.

As it was no longer possible to buy used or eaten items, a scene of two customers fighting each other over a pot at an IKEA store was posted on social media.

Considering that there is not a lot of anti-war opinion in Russia, the general public of Russia is also a victim of war.

'Leaving companies, handing over management'...

nationalization movement

Russia is also raising the level of response to the 'post-Russian' movement of companies.

According to Bloomberg News, Russian President Putin said in a video aired on state media that "we need to act decisively against those who want to stop production." I did.



In fact, the Russian government has also prepared a bill to make Putin's remarks a reality.

The new law allows the courts to appoint external management to a company with more than 25% foreign ownership if it wants to close its business in Russia, such as the state-owned bank VEB of Russia.

It also allows courts to freeze stock trading in a company to preserve its assets and jobs.

It is known that foreigners who hold shares will have to either resume business within 5 days or sell their shares.



There is even talk of going one step further and nationalizing these companies altogether.

Medvedev, the vice chairman of the National Security Council, who served as president and prime minister of Russia, posted on social media that the Russian government is seeking ways to nationalize the assets of foreign companies leaving the country.

Local media reported that a consumer group had compiled a list of foreign companies with potential for nationalization, which reportedly included 59 companies, including Apple, Volkswagen, IKEA, Microsoft, IBM, McDonald's and Toyota.




However, the Russian government seems to distance itself from the possibility of nationalization for now.

The move is aimed at encouraging foreign companies not to stop working in Russia, suggesting that the focus is on asset sales rather than asset nationalization.

Unfriendly countries do not protect intellectual property rights

Russia's response extends not only to the assets of foreign companies in Russia, but also to intellectual property rights.

The Washington Post reported that Russia has effectively legalized theft of patents related to 'non-friendly countries'.

The Russian government said in an order issued on the 7th that it had declared that the protection of patent owners registered in non-friendly countries would cease.

In other words, even if Russian companies use certain patents without permission, they will not be sued for damages.



Russia's state-run TAS news agency reported that citing Russian officials, they were also considering removing restrictions on some trademarks.

In this case, the Washington Post said it could allow local businesses to continue to use the brands of companies that are withdrawing from Russia, such as McDonald's.




As is already known, on the 7th, the Russian government designated 48 countries as non-friendly countries, including Korea, the US, the UK, Australia, Japan, and member states of the European Union (EU) that participated in its sanctions.

Although it is a measure aimed at the United States and Europe, it is a part that can have an impact on our country as well.

our companies?

The concerns of our companies have also grown.

Hyundai Motor Group, which ranks third in the Russian automobile market with a market share of about 23% (Hyundai and Kia combined), has not yet made a special position.

During the Crimean crisis in 2014, Hyundai Motor did not withdraw from its local business, but increased its market share.

As this is a Russian project that has been painstakingly developed for decades, we have no choice but to be cautious.



However, Hyundai Motor Company is actively responding outside Russia, such as suspending sponsorship of Chelsea club, which is known for £10 million per year, after the British government placed on the list of sanctions Chelsea owner Roman Abramovich, who is known to be a close associate of Russian President Putin. appeared to be



Samsung Electronics and LG Electronics, which have factories locally, are in a similar situation.

Judging from the precedent that occurred during the Crimean crisis, if Korean companies withdrew their business from Russia, even if the Ukraine crisis is over, there is a high probability that they will not be able to do business in Russia again.

As a Korean company, we have no choice but to keep an eye out between Russia and the international community that continues to be 'post-Russia'.




Here, we must also look at Ukraine, the party involved.

In fact, Ukraine's Deputy Prime Minister and Minister of Digital Innovation Mikhail Fedorov has requested Samsung to suspend its business in Russia.

Deputy Prime Minister Fedorov tweeted on the 4th local time, "I urge (Samsung) to take a step towards world peace." "As long as Russian tanks and missiles bomb kindergartens and hospitals in Ukraine, Samsung's cool products are being used in Russia. It shouldn't be," he said.

He also attached a letter he sent to Samsung Electronics Vice Chairman Han Jong-hee the day before.



Along with these various pressure factors, there is one more thing to consider.

In a situation where our country is joining Russia's sanctions and Western companies are leaving Russia one after another, if only Korean companies remain in Russia to continue their business, they could be criticized by the international community and consumers around the world.

I hope that the war will end as soon as possible for the people of Ukraine who are engulfed in the flames of war and for our companies that cannot do this or that.