Year-End Special Crackdown on 'Overseas Direct Purchase Reselling'... Punishment for Smuggling
Exterior view of the Korea Customs Service Seoul Customs building. Provided by Korea Customs Service
View original image[Asia Economy (Daejeon) Reporter Jeong Il-woong] A special crackdown will be conducted on the act of reselling products purchased through overseas direct purchase within the country. In such cases, if caught, one may be punished for smuggling, so caution is required.
The Seoul Customs Headquarters of the Korea Customs Service announced on the 26th that from next month 1st to January 31st of next year, a special crackdown will be launched to eradicate the act of 'reselling overseas direct purchase products.'
This measure is in preparation for the surge in overseas direct purchase volumes around China's Guanggun Festival and the US Black Friday period, and the increasing cases of reselling products brought in as express shipments.
During the special crackdown period, Seoul Customs plans to closely monitor the reselling of overseas direct purchase products and immediately initiate investigations if illegal activities are confirmed.
In particular, they plan to focus on illegal cases that evade punishment by abusing customs guidance, such as repeatedly using multiple IDs or using another person's name to avoid the crackdown.
Hot Picks Today
"Buy on Black Monday"... Japan's Nomura Forecasts 590,000 for Samsung, 4 Million for SK hynix
- "Plunged During the War, Now Surging Again"... The Real Reason Behind the 6% One-Day Silver Market Rally [Weekend Money]
- "Not Everyone Can Afford This: Inside the World of the True Top 0.1% [Luxury World]"
- "We're Now Earning 10 Million Won a Month"... Semiconductor Boom Drives Performance Bonuses at Major Electronic Component Firms
- Experts Are Already Watching Closely..."Target Stock Price 970,000 Won" Now Only the Uptrend Remains [Weekend Money]
A Seoul Customs official stated, "Bringing in goods without paying taxes for the purpose of direct use by the buyer and then reselling them domestically is a clear violation of the Customs Act," adding, "Customs will prevent and deter such cases through the special crackdown and punish those caught for smuggling."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.