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South Korean company smuggled $11.6 million worth of US-made chips into China | The operation ran for three years
The Seoul Main Customs Office announced that for three years starting in August 2020, individuals in South Korea operating "Company A" smuggled US-made semiconductor integrated circuits into China.
The Seoul Main Customs Office announced that for three years starting in August 2020, individuals in South Korea operating "Company A" smuggled US-made semiconductor integrated circuits into China. The process started with the chips being legally purchased and then imported into South Korea by Company A, which legitimately distributes overseas electronic components in the country, according to BusinessKorea. Company A managed to avoid suspicion by ordering more chips than it needed from official distributors, and smuggling the excess into China in small batches disguised as sample products.
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