If you owe more than 10 million won in customs duties in the future, the government will regularly check for virtual asset holdings, SBS Biz reported. Not only accounts on virtual asset exchanges but also virtual assets hidden in personal wallets will be seized to cover the overdue amount. According to new instructions implemented by the Korea Customs Service on the 28th of last month, if the overdue customs duty is 10 million won or more, major virtual asset exchanges must be checked at least once a year for holdings. Currently, there are approximately 1,100対象 persons, and the Korea Customs Service plans to conduct regular checks at the end of this year.
