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malaz
Joined: 06 Jan 2013
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 Posted: Wed Jan 28, 2015 1:45 am Post subject: Declaring cash and jewelry at Airport. |
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Is it possible to just walk through the security check at Incheon airport with whatever amount of cash or jewelry with me or do I have to declare it?
and is there a limit to what I am carrying ? |
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Cave Dweller
Joined: 17 Aug 2014
Location: Seoul
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| Posted: Wed Jan 28, 2015 2:53 am Post subject: Re: Declaring cash and jewelry at Airport. |
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10000 Us dollars or more must be declared.
| malaz wrote: |
Is it possible to just walk through the security check at Incheon airport with whatever amount of cash or jewelry with me or do I have to declare it?
and is there a limit to what I am carrying ? |
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ttompatz
Joined: 05 Sep 2005
Location: Kwangju, South Korea
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| Posted: Wed Jan 28, 2015 6:27 am Post subject: |
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Inbound or outbound?
IF you cross an international border with more than US$10k in negotiable instruments (cash, T/Cs, bonds, etc) you are legally required to declare it.
There is no tax issue but you need to declare it (due to treaties to combat money laundering).
Smuggling cash can get you in trouble and get the cash confiscated. It is easier to just fill in the form and be on your way.
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Captain Corea
Joined: 28 Feb 2005
Location: Seoul
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| Posted: Wed Jan 28, 2015 5:37 pm Post subject: |
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The issue is usually in entering a country.
That said, I've known guys that have been pulled aside and grilled regarding their destination and funds on them. |
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