Criminal Act Article 207 (Crimes of Counterfeiting Currency)

(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 at least two years.

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 15 million won.

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.

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

(1) A person who, for the purpose of sale, manufactures, imports, or exports 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) The preceding paragraph shall apply to a person who sells items specified in the preceding paragraph.

The Bank of Korea Act Article 49-2 (Centralized Management of Counterfeit or Altered Bank of Korea Notes)

(1) After the investigation or trial on counterfeit or altered notes is completed, the Bank of Korea may centralize the management of the relevant counterfeit or altered notes.

(2) Matters necessary for the centralized management of the forged or altered notes referred to in paragraph (1) shall be determined by the Bank of Korea after consultation with the relevant agencies

The Bank of Korea Act Article 53-2 (Prohibition of Damage to Coins)

No person shall damage coins by melting, pulverizing, or compressing them or by any other means without permission by the Bank of Korea, in order to use coins for other purposes in the pursuit of making profit.