Illegally smuggled silver worth 4.56 bln won confiscated in Q1 | Yonhap News Agency

## Summary
OK By Kim Han-joo SEJONG, April 8 (Yonhap) -- Customs authorities have caught 14 cases of illegal silver smuggling worth 4.56 billion won (US$3.08 million) in the first quarter, according to officials Wednesday. The seized amount during the January–March period is about 2.7 times higher in terms of value than those confiscated last year, according to the Korea Customs Service (KCS). The Korea Customs Service building (Yonhap) khj@yna.co.kr (END) Keywords #customs agency Articles with issue keywords Most Liked Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (LEAD) BTS tops Billboard albums chart for 2nd week with 'Arirang,' a first in K-pop BTS to drop 'Come Over,' exclusive new track on 'Arirang' LP Lee voices hope for peace in Easter message (2nd LD) Trump claims Iran's president has asked for ceasefire; Iran denies it Most Saved Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (3rd LD) Lee says S. Korea, France agree to cooperate on safe passage through Strait of Hormuz Lee voices hope for peace in Easter message prev Illegally smuggled silver worth 4.56 bln won confiscated in Q1 Next Illegally smuggled silver worth 4.56 bln won confiscated in Q1

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OK
By Kim Han-joo
SEJONG, April 8 (Yonhap) -- Customs authorities have caught 14 cases of illegal silver smuggling worth 4.56 billion won (US$3.08 million) in the first quarter, according to officials Wednesday.
The seized amount during the January–March period is about 2.7 times higher in terms of value than those confiscated last year, according to the Korea Customs Service (KCS).
The agency said it will launch an intensive crackdown to strictly combat silver smuggling, which has recently been exploited as a means of tax evasion and money laundering amid rising international silver prices.
The crackdown aims to proactively block tax evasion and criminal money laundering through high-intensity enforcement.
Silver prices in the international market have surged by over 200 percent this year compared with a year earlier, reaching record levels at around US$114 per ounce.
The Korea Customs Service building (Yonhap)
khj@yna.co.kr
(END)
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Illegally smuggled silver worth 4.56 bln won confiscated in Q1

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## Expert Analysis

### Merits
N/A

### Areas for Consideration
- The Korea Customs Service building (Yonhap) khj@yna.co.kr (END) Keywords #customs agency Articles with issue keywords Most Liked Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (LEAD) BTS tops Billboard albums chart for 2nd week with 'Arirang,' a first in K-pop BTS to drop 'Come Over,' exclusive new track on 'Arirang' LP Lee voices hope for peace in Easter message (2nd LD) Trump claims Iran's president has asked for ceasefire; Iran denies it Most Saved Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (3rd LD) Lee says S.

### Implications
- The agency said it will launch an intensive crackdown to strictly combat silver smuggling, which has recently been exploited as a means of tax evasion and money laundering amid rising international silver prices.
- The Korea Customs Service building (Yonhap) khj@yna.co.kr (END) Keywords #customs agency Articles with issue keywords Most Liked Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (LEAD) BTS tops Billboard albums chart for 2nd week with 'Arirang,' a first in K-pop BTS to drop 'Come Over,' exclusive new track on 'Arirang' LP Lee voices hope for peace in Easter message (2nd LD) Trump claims Iran's president has asked for ceasefire; Iran denies it Most Saved Oscar-winning 'KPop Demon Hunters' directors promise 'bigger,' more 'eventful' sequel (3rd LD) Lee says S.

### Expert Commentary
This article covers silver, korea, customs topics. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 309.