US President Joe Biden speaks about sanctions against Russia during an event with the National Governors Association at the White House on February 23. (Source: AP-Yonhap)

Daesung International Trading, a company based in the southeastern city of Gimhae, was one of 93 entities added to the U.S. Commerce Department’s “entity list” on Feb. 23 that was subject to export restrictions.

"Regarding the company, we have shared information with the US in advance and our relevant authorities are also currently conducting an investigation," a South Korean Foreign Ministry official said, noting that the government plans to continue to cooperate closely with Washington and other key countries in enforcing sanctions against Russia.

The head of Daesung International Trading Company is a Pakistani national, according to a South Korean government official.

South Korea's trade ministry said it and the country's customs agency are looking into the company's alleged violations of laws such as the Foreign Trade Act.

Following the investigation, the government plans to impose penalties and fines if any violations of the law are found.