SEOUL, July 27 (Yonhap) -- South Korea uncovered illegal foreign exchange transactions worth 7.2 trillion won (US$4.92 billion) in the first half of 2026, the customs agency said Monday, amid government-wide efforts to curb volatility in the foreign exchange market.

The Korea Customs Service uncovered 792 cases of illegal foreign exchange transactions over the January-June period, including the illegal transfer of foreign currency abroad and the concealment of assets overseas.

The customs agency noted that some cases involved receiving export proceeds in cryptocurrencies instead of legal tender, such as the U.S. dollar, thereby failing to bring foreign currency earned from exports back to South Korea.

"I ask our staff to continue taking stern action against the illegal transfer of foreign currency, which gives an adverse impact on the government's efforts to stabilize the foreign exchange market," Lee Jong-wook, commissioner of the agency, said.

The official added that the customs agency will strengthen cooperation with relevant agencies, including the finance ministry, as the recent volatility in the foreign exchange market is considered one of the major risks facing the South Korean economy.

colin@yna.co.kr

(END)

  • 'Dracula' featuring Jennie maintains No. 5 on Billboard 100
  • 'Agent Kim Reactivated' reigns atop Netflix's weekly non-English chart for 3rd week
  • Nam Joo-hyuk to star in new Disney+ crime thriller 'Code'
  • Actor Lee Dong-wook promises intense action, catharsis in 2nd season of 'A Shop for Killers'

  • Psy's 'Gangnam Style' tops 6 billion YouTube views

  • Disney+ to release 2nd season of 'Made in Korea' in Sept.

  • (LEAD) S. Korea, U.S. open shipbuilding partnership center to advance MASGA initiative
  • (URGENT) S. Korea's Daejeon selected as host city for 2029 Invictus Games: veterans ministry
  • Actor Lee Dong-wook promises intense action, catharsis in 2nd season of 'A Shop for Killers'

  • Lee's apartment sold for 2.9 bln won

  • Russia preparing to receive another 30,000 N. Korean troops for Ukraine war: Zelenskyy

  • President Lee wraps up visit to San Francisco, heads to S. America
  • SK hynix expected to post record 64.1 tln won in Q2 operating profit: report
  • Lee says emergence of AI era offers S. Korea new opportunity
  • S. Korea's travel account posts surplus for 3rd consecutive month in May: data