SEOUL, February 13. /TASS/. South Korean companies that have not left the Russian market, continue to earn "very good profits" in the country, Russian Ambassador to Seoul Georgy Zinovyev said.

"It's true that many large Korean manufacturers have left the market, but many not only remain but are actually making very good profits," he said at a meeting with reporters. This refers to representatives of the light industry, food and cosmetics manufacturers, including large corporations, the diplomat added. He also noted that South Korean companies were forced to cease operations in Russia due to export restrictions imposed by the government of the Republic of Korea.

"Automobile and electronics manufacturers were forced to leave because the South Korean government imposed anti-Russia sanctions on exports. The list of these restrictions currently consists of 1,402 items. They were unable to conduct their normal operations in Russia [due to these restrictions]," the ambassador explained, adding that the full return of such corporations to Russia is unlikely without the lifting of these sanctions.

"When they will be lifted is not a question for the Russian side," he said when asked to assess the prospects for South Korean companies to return to Russia after the conflict in Ukraine is resolved.

In the past, the Republic of Korea was an important trading partner for Russia: trade turnover between the countries approached $30 bln, Zinovyev said. "Last year, trade turnover stabilized at over $10 bln," he noted, adding that Russia remains attractive to foreign businesses because it has a large domestic market. At the same time, sanctions are often imposed quickly, but their lifting can take decades, as was the case with the Jackson-Vanik amendment in the United States, the diplomat stated.

The lifting of sanctions by Seoul could give South Korean companies the opportunity to participate in the reconstruction of new constituent entities of the Russian Federation affected during the special military operation. "This idea has a right to exist as the Republic of Korea is known for its expertise in construction," he concluded.