Value context and insight. lkm@koreatimes.co.kr
Korean firm probed over alleged customs law violation
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By Lee Kyung-min
By Lee Kyung-min
Korea Customs Service (KCS) said Monday that it is investigating a Korean shipping company suspected of having forged customs papers in an apparent attempt to help move petrochemical products from its ship onto a North Korean vessel.
This could constitute an illegal export of the banned material, in violation of United Nations sanctions.
This can be subject not only to criminal prosecution but also to KCS punishment. If confirmed, the firm may face a fine of tens of billions of won.
The exact amount of the fine will be determined upon customs authorities' confirmation of inspection.
The investigation followed suspicion that a Korean company repeatedly falsely declared Singapore as the final destination of its vessel.
According to reports by Voice of America, Singaporean authorities said the Korean vessel in question had never come to the country between April 9 2018 and Jan. 12 2019.
This contradicts customs papers submitted by the firm which said on 12 occasions that its final destination was Singapore.
The KCS said its investigation will continue to determine whether the firm can be punished for violating related customs laws.
It added the ongoing case is one of two initially pursued cases, with the other already having been referred to the prosecution at the recommendation of a separate ministry.