Cash / Currency → South Korea

USD 10,000 equivalent must be declared

Details

Travelers carrying cash, monetary instruments, traveler's cheques, or precious metals worth USD 10,000 or more (or KRW equivalent) must declare them to Korea Customs Service on arrival or departure. Undeclared amounts are confiscated and the carrier may face fines up to 30% of the undeclared value plus criminal prosecution. Inbound declaration uses the Customs Declaration Form; outbound requires a separate Foreign Exchange Transaction Report.

Quantity limit

USD 10,000

Documentation required

• Customs declaration form

Legal reference

Foreign Exchange Transactions Act

Practical advice

Declare cash, traveler's cheques, or monetary instruments above the local threshold to Korea Customs Service on arrival or departure. Use the dedicated currency-declaration channel; undeclared amounts above the threshold are subject to seizure and an administrative fine of 25-50% of the undeclared sum.

Customs authority

Korea Customs Service (KCS) · https://www.customs.go.kr