Odaily Planet Daily reports that South Korea’s Korea Customs Service stated on Monday that it seized illegal foreign exchange transactions worth 7.2 trillion Korean won (approximately $4.92 billion) in the first half of the year. The agency said that between January and June, it uncovered 792 cases of illegal foreign exchange transactions involving unlawful transfers of foreign currency overseas and concealment of overseas assets. Some cases involved export companies receiving payment for exports in cryptocurrencies rather than legal tender such as the U.S. dollar. Customs Service Chief Lee Jong-wook said the agency will strengthen cooperation with relevant departments, including the Ministry of Economy and Finance, to mitigate risks posed by fluctuations in the foreign exchange market.
South Korea Seizes 7.2 Trillion Won in Illegal Foreign Exchange Transactions in the First Half of 2026
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Summary
South Korea cracked down on 7.2 trillion won (approximately $49.2 billion) in illegal foreign exchange flows in the first half of 2026, according to Customs Hall. From January to June, 792 cases were uncovered, including hidden overseas assets and crypto-based export payments. Director Lee Jong-wook said the agency will work closely with the Ministry of Economy and Finance to manage risks. With increased exchange flows under scrutiny, altcoins to watch may face tighter regulatory pressure.
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