The Bosnian government in September gave its consent for Stanic's appointment as the honorary consul of South Korea, and the decision went into force on Monday.
As South Korea does not have its diplomatic mission in Bosnia, Stanic is expected to open the honorary consulate of that Asian country in Sarajevo soon.
His "Stanic Trade" company has been successfully representing the South Korean LG electronics group on the Bosnian market for 15 years, which is why South Korea has accredited him as its honorary consul.
In Croatia, Stanic has been indicted for giving bribes to former Croatian Privatisation Fund vice-president Ivan Gotovac and for inciting him to abuse his powers in the privatisation of two companies.
At their first trial before the Zagreb County Court, they were acquitted. However, the Supreme Court has ordered a retrial, which is being held before the Zagreb County Court.
The court today could not say whether Stanic's status of honorary consul would affect the continuation of the retrial. The next hearing is scheduled for 21 and 24 January.