S. Korea to end certain exchange controls in 2001

The South Korean government will end restrictions on the amount of foreign currency travellers can take out next year, but those who carry more than US$50,000 should first secure Bank of Korea approval, the finance and economy ministry said Thursday. Those who carry over $10,000 must still report it to the customs.

The current US$5,000 limit for wire transfers will also be lifted beginning January 1, but the National Tax Service will keep records of transfers over $10,000. And people transferr

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