When I’m passing through customs with $5 million cash in my carry-on bag I always declare it. It’s just the right thing to do.
Not everyone plays by the rules though.
Yesterday Kim Wooyeong, a South Korean now living in the Philippines, was caught by Singapore customs officials at Changi Airport with a lazy S$7 million in his bag that he hadn’t declared. That’s a bit over US$5 million.
Apparently the cash belonged to his uncle (Park Dong Choel). Uncle Park had had really good weekend at the Marina Bay Sands and Kim was taking some of the winnings back home for him.
Kim was lucky to dodge the maximum 3 year jail sentence that a transgression of this type attracts and instead copped a S$30,000 fine, which I assume he paid for in cash…on the spot.
I would love to know how much Uncle Park won at the casino in total, if he trusted $7 million of it to his not-so-bright nephew!