Posts in category

customs


South Korea’s customs authority is looking to adopt Samsung’s blockchain tech as the backbone of a decentralized customs clearance system. Samsung SDS, the conglomerate’s IT arm, said on Friday that the Korea Customs Service has inked a memorandum of understanding (MoU) that will see Samsung’s Nexledger blockchain utilized for the new platform. Forty-eight domestic institutions, …

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Cryptocurrency miners in South Korea may find it to be more difficult in getting foreign-made mining chips imported to the country. According to data published by the Korean Customs Service (KCS) Wednesday, the government agency has added cryptocurrency mining chips into the current list for items that are mandated to meet certain requirement set by …

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The South Korea government is investigating the use of cryptocurrency in illegal foreign currency exchange, according to a statement. Released on Jan. 31 by the Korea Customs Service (KCS), the statement alleges that a total of 637.5 billion won worth (or around $600 million) in foreign currencies have been exchanged illegally, including unrecorded capital outflow using …

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