Prosecutors Seek Arrest Warrant for Incheon Customs Official Over Bribery to Suppress Illegal Remittance Investigation

The prosecution has requested an arrest warrant for a customs official who received bribes from a group that illegally remitted foreign currency overseas, targeting the 'Kimchi Premium.'

Seoul Central District Prosecutors' Office
Photo by Yonhap News

The International Crime Investigation Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Na Uk-jin) announced on the 10th that it has requested an arrest warrant for Mr. A, the director of the Incheon Customs Headquarters, on charges of bribery under the Act on the Aggravated Punishment of Specific Crimes.

Mr. A is suspected of demanding a bribe of 600 million won and receiving 130 million won from a remittance company involved in illegal overseas remittance cases from April to September last year in exchange for covering up the investigation. It was found that the remittance company requested Mr. A to halt the investigation as financial authorities intensified their probe.

The prosecution and Seoul Customs Headquarters uncovered a group that illegally remitted about 4 trillion won overseas, exploiting the phenomenon called the 'Kimchi Premium,' where domestic virtual asset exchanges have higher prices than overseas exchanges. By January, 11 people were arrested and indicted, and 9 were indicted without detention.

During the investigation, the prosecution detected signs of bribery involving Mr. A. On the 8th, he was arrested, and his office and other locations were searched.