Local customs officials have apprehended executives of a distribution company involved in the smuggling of U.S.-made semiconductor integrated circuit (IC) chips, classified as strategic items, into China after importing them for domestic use. This marks the first instance of customs discovering the
The National Tax Service (NTS) announced on Dec. 28 that it has collected 1.35 trillion won (US$1.05 billion) in tax assessments in the area of overseas tax evasion alone through tax investigations conducted this year. The figure exceeds the average annual collection for the three years before the C
A former senior executive of Samsung Electronics, referred to as Mr. A, has been arrested and will stand trial for his attempt to copy Samsung Electronics' semiconductor plant in its entirety in China.The Defense Industry and Industrial Technology Crime Investigation Division of the Suwon Distri
Huh Hee-soo, vice president of SPC Group and the second son of SPC chairman Huh Young-in, was arrested on suspicion of smuggling and smoking liquid cannabis.The Eastern Branch of Seoul District Public Prosecutors' Office said on August 7 that he was arrested on August 6 on suspicion of violating
South Korean financial authorities are at a loss as suspicions are growing that North Korean coal was smuggled into South Korea. This is because they haven’t come up with clear measures yet, though the US government is expected to impose sanctions on not only Korea South-East Power Co., which is all
It was found that the volume of fakes surpassed 3 trillion won (US$2.7 billion) in past five years and the most frequently faked brand was Louis Vuitton. On September 28, according to data on a crackdown on intellectual property right violators which lawmaker Park Myung-jae (the Saenuri Party) who
Cartier, a byword of luxurious jewelry and wedding watches, is feeling heavy with worry. This is because the luxurious Switzerland-made brand has become the most counterfeited item smuggled into Korea in the first half of this year. Also, it is struggling to position itself as a high-end brand in th
Luxury Switzerland-made Cartier replaced Louis Vuitton to become the most counterfeited items smuggled into Korea by price, according to data by the Korea Customs Service. As the most popular items in the counterfeit market have changed from bags to luxury watches, Louis Vuitton, which has been rank
The Rodong Sinmun of the Democratic People's Republic of Korea posted a picture of Changjon Street in Pyongyang on Sept. 29, 2014. The photo shows a circular building in front of a row of high-rise apartments. The circular building is a theater, and the apartments get as high as 45 stories. The nigh
A group of persons that produced and distributed counterfeit Samsung Electronics’ smartphones in Korea has been arrested. Until now, it was believed that the counterfeit Samsung products were manufactured and put on the market in China. The International Crime Investigations Unit of the Busan Metrop
An increasing number of Korean flight attendants are being caught smuggling luxury goods. According to the Korea Customs Service, the monetary amount of smuggling by flight attendants has reached 589 million won (US$553,112) between 2010 and August of this year. A total of 172 items were smuggled du
Two Korean citizens, sentenced to death for smuggling and selling substantial amounts of drugs in China, were executed on August 6. This was the first actual execution of Korean criminals in China for ten years.According to the Ministry of Foreign Affairs and Trade, two Koreans, Kim and Baek, were s
The Ministry of Science, ICT and Future Planning announced on April 10 that it will be mandatory for local smartphone makers to release new products with a built-in kill switch to deter the widespread theft and loss of smartphones. A kill switch, also known as an emergency stop, is a safety mechanis