MANILA, Philippines – Bureau of Customs (BOC) agents intercepted a Korean at the Ninoy Aquino International Airport (NAIA) on Friday, November 30, for carrying 3.8 million Hong Kong dollars, equivalent to P25.7 million.
According to the BOC, Kim Junheon came from South Korea and arrived in Manila on Friday night aboard Philippine Airlines Flight PR307.
Kim was apprehended by BOC intelligence agents after he went through security checks, which showed that he was carrying a huge sum of foreign currency in his luggage. He is currently under the custody of the BOC.
Bangko Sentral ng Pilipinas (BSP) rules state that foreign travelers are only allowed to carry up to $10,000 whenever they enter or leave the Philippines. Should the foreign traveler wish to carry cash beyond that amount, he or she must secure an authorization form from the BSP.
Failure to follow this policy is also a violation of the Customs Modernization and Tariff Act. Kim is now facing a criminal complaint.