Counterfeiting laws

Crimes of Counterfeiting Currency

Criminal Act Article 207 (Crimes of Counterfeiting Currency)

1. 1) A person who, for the purpose of uttering, counterfeits or alters a current coin, paper money, or bank note of the Republic of Korea shall be punished by imprisonment for life or not less than two years.
2. 2) A person who, for the purpose of uttering, counterfeits or alters a foreign coin, paper money or bank note which is currently in use in this country shall be punished by limited imprisonment for not less than one year.
3. 3) A person who, for the purpose of uttering, counterfeits or alters a foreign coin, paper money or bank note which is currently in use in a foreign country shall be punished by imprisonment for not more than ten years.
4. 4) A person who utters a counterfeited or altered currency as referred to in the preceding three paragraphs, or who, for the purpose of uttering, imports or exports same shall be punished by penalty as prescribed against each crime of counterfeit or alteration.

Act on the Aggravated Punishment, etc. of Specific Crimes Article 10 (Aggravated Punishment of Currency Forgery)

Any person who commits a crime as prescribed in Article 207 of the Criminal Act shall be punished by capital punishment, imprisonment for life or not less than five years.

Acquisition of Counterfeited Currency

Criminal Act Article 208 (Acquisition of Counterfeited Currency)

A person who, for the purpose of uttering, acquires counterfeited or altered currency specified in Article 207 shall be punished by imprisonment for not more than five years or a fine exceeding fifteen million won.

Circulation of Currency Known to be Counterfeited

Criminal Act Article 210 (Circulation of Currency Known to be Counterfeited)

A person who, after obtaining the currency specified in Article 207, utters the same, knowing it to be counterfeited or altered, shall be punished by imprisonment for not more than two years or by a fine not exceeding five million won.

Manufacture of Articles Similar to Currency

Criminal Act Article 211 (Manufacture of Articles Similar to Currency)

1. 1) A person who, for the purpose of sale, manufactures, imports, or exports of articles similar to a coin, paper money, or bank note which is current or circulated in this country or abroad, shall be punished by imprisonment for not more than three years or by a fine not exceeding seven million won.
2. 2) The preceding paragraph shall apply to a person who sells items specified in the preceding paragraph.