Trade Minister Yeo Han-koo said that South Korea's participation in export controls against Russia on a similar level to the U.S. has served to solidify and reaffirm the Korea-U.S. alliance.

Speaking to Yonhap news agency Friday, Yeo said the U.S. commerce department on Tuesday held an online briefing for South Korean firms regarding export controls against Russia. He noted the session was the first of its kind by the department where companies of a different country were invited.

Concerning his earlier talks with Korea Society President Thomas Byrne in New York, the minister said Seoul and Washington are completely on the same page when it comes to implementing export curbs against Moscow.

On the issue of trade, Yeo said Korea's trade exposure to Ukraine is very small but supply chain concerns could deal a blow as global supply chains of key industries are interconnected, such as steel, wheat and raw material imports for chip production.