Is there import duty when carrying gold bars into South Korea?

Question

I know the currency limit it $10,000 but would gold fit in this category?

Answer 1

Yes 10000$= gold tooo

Answer 2

It is good that you ask this question before coming. Some information you did not state is whether you are just a tourist, or importing for a business.



Gold buillon does not fit into this category.



The South Korean Government takes a very hard view on people bringing Gold buillon into the country, whether declared or smuggled.



If you are a tourist, chances are against you; South Korea confiscates all Gold buillon; you'll never see it again.



Just last week on a Korean TV program they showed the Immigration Officials at Incheon Airport dealing with smugglers. Items found were uncut and cut diamonds not mounted into settings. Other items included fake designer-name items.

And yes, they also found gram-sized bars of Gold buillon amongst the items being smuggled in.



To be safe, contact a South Korean Government or Immigration internet site to ask this question.



You'll definitely need Government paperwork to bring Gold bullion into the country.



Get the paperwork you need to avoid confiscation forever.

Answer 3

You have to declare all bulk (non-jewerly) gold. I would strongly suggest that, if you MUST bring gold to Korea, that you obtain prior approval from Customs. Even if the gold is not confiscated, it will probably be held for a while, pending an investigation. I looked around my apartment, I don't seem to have the Korea customs form, but I seem to recall you have to mark "gold/silver/other precious metals" on the form and list the value.



You need to talk with an import firm in Korea to assist you.

Answer 4

Yes there is import for gold exceeding $10,000. You can share with your friends or call another traveller to help you. you can pay him a small token.