Customs agency begins special probe spurred by unusually large customs clearance and payment gap
Published: 26 Dec. 2025, 13:26
![The Korea Customs Service headquarters in Daejeon is seen in this file photo. [YONHAP]](https://koreaseafood.online/data/photo/2025/12/26/8a5e9b8d-ff8e-4213-a9ab-f587e8db0447.jpg)
The Korea Customs Service headquarters in Daejeon is seen in this file photo. [YONHAP]
The figure represents the total difference between all trade payments received and paid through banks and the value of customs-cleared trade volumes reported to authorities during the period from January to November, according to the Korea Customs Service (KCS).
Some discrepancy between customs-reported trade values and actual payments are common due to timing differences in trade settlements. However, the agency said the unusually large divergence this year may indicate intentional delays or failures to make or receive payments by parties seeking to illegally take advantage of volatilities in the foreign exchange market.
In response, the KCS said it began a nationwide special inspection targeting illegal trade and foreign exchange practices that exploit the high exchange-rate environment.
The crackdown will focus on violations, including the failure to recover trade payments, irregular settlement methods using virtual assets and foreign currency smuggling through manipulated import prices.
Yonhap
with the Korea JoongAng Daily
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