Passengers entering Korea who are carrying foreign or Korean currency valuing over USD10,000 must declare it to a Customs official.
Departing non-residents of Korea, who are carrying foreign or Korean currency (including traveler's or bank checks) valuing more than USD10,000 must obtain permission from the bank of Korea or Customs, not including any amount carried into Korea and declared on arrival, which may be carried out without declaration to Customs.
Residents of Korea must declare any currency or negotiable checks more than USD10,000 upon departure. Failure to abide by these regulations could result in fines or other penalties under the Foreign Exchange Transactions Act.
K4E Editor: Korea4Expats.com tries to ensure that the information we provide is accurate and complete, so should you notice any errors or omissions in the content above please contact us at email@example.com. Please note that government regulations and proceedures may have changed from what has been described above or may not apply in all situations/cases. K4E recommends that you check with the appropriate government office and/or officials prior to going forward.
Last Updated on 2013-04-07
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