Stop Doing
Business with Russia
Russia initiated aggression against Ukraine in 2014. On February 24, 2022, it started a full-scale military invasion to the Ukrainian territory. This brutal war and military crimes of Russian troops caused a humanitarian crisis in Ukraine with thousands civilians killed and millions becoming refuges. As a reaction to this act of aggression, many international companies decided to leave the Russian market, while some others continue doing business there as usual. We track such decisions of companies and urge them to stop funding the war.
Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business
Pausing InvestmentsReducing Activities: company scaling back some business operations while continuing others
Scaling BackPause operations: company temporarily curtailing operations while keeping return options open
SuspensionClean Break: the company completely halting Russian engagements or exiting Russia
WithdrawalExit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exit Completed
Continue doing business as usual.
Lotte on edge over plants in Russia: Korean food companies that operate plants in Russia have been closely watching Moscow's war against Ukraine and subsequent US-led international sanctions, as they fear a prolonged military conflict could negatively affect their business there
Received revenues in Russia in 2021, there is no any official announcement
Binggrae, South Korea's leading food company, has announced its participation in the '2025 PRODEXPO (Moscow International Food Expo)' as part of its efforts to expand into the Russian market.
Nongshim is pushing to establish a Russian corporation this year, which will accelerate its global business expansion. “After establishing a European branch in the Netherlands last year, we plan to open a local branch in Russia this year,” said Chairman Shin. “We are also considering expanding into the CIS (Commonwealth of Independent States) region.”
South Korean confectionery maker Orion Corp. is on track to surpass 2 trillion won ($1.36 billion) in cumulative sales in Russia this year. Orion products in Russia include Choco Pie, Choco Boy, Choco Boy Safari, Gouté, Crack it, Choco Chip, and Mr. Bagetti, which are produced at local factories in Tver and Novosibirsk, as well as Jeju Yongamsoo volcanic drinking water, imported from South Korea. Both factories are certified according to the international FSSC 22000 standard.