Customs service tightens rules on frequent overseas shoppers

Home > Business > Industry

print dictionary print

Customs service tightens rules on frequent overseas shoppers

Anyone who spends more than $5,000 overseas, including buying items from retailers outside of the country via the Internet every quarter, will be reported to the customs office.

According to the Korea Customs Service yesterday, regulations on overseas spending have been tightened. Previously, only credit card purchases that exceeded $10,000 annually were reported to the customs agency.

But starting this year, cash withdrawals that exceed $5,000 every three months will be reported to the agency. The customs office plans to survey purchases that have exceeded the limit since January. It will receive the information from related institutions by the end of next month for purchases made in the first quarter.

More in Industry

Work at home is not as easy as it sounds, ministry says

Flying visit

[NEWS IN FOCUS] Spotify is still almost here, and seems to be getting closer

Korea Inc. calls on Suga to relax border restrictions

House-bound consumers awaken a sleeping industry

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now