Korean man found illegally transporting gold bullion
Customs officers at the Tan Son Nhat International Airport in Ho Chi Minh City on March 20 detained a Korean man after he was found illegally transporting a gold bullion to the Incheon airport in the Republic of Korea.
The gold bullion seized in the case (Source: //thoibaotaichinhvietnam.vn)
HCM City (VNA) – Customs officers at the Tan Son Nhat International Airportin Ho Chi Minh City on March 20 detained a Korean man after he was found illegallytransporting a gold bullion to the Incheon airport in the Republic of Korea.
The 39-years-old man, named H.W.I was found hiding a gold bullion worth nearly700 million VND (around 30,800 USD) in his luggage.
Under Circular No.11/2014/TT-NHNN by the State Bank of Vietnam, Vietnamese and foreignindividuals are banned from carrying gold bullions or gold materials whenleaving or entering Vietnam
Individuals on exit orentry are permitted to carry only jewellery gold and fine-art goldarticles. If the gold totals 300 grams or more, they must declare tocustoms officers.
In this case, the man may face up to 2-5years in prison if he is prosecuted.-VNA
A draft decree by the State Bank of Vietnam (SBV) seeks to restrict the trade in gold bullion to stabilise the gold market, check hoarding and speculation, and minimise the influence of the gold market on monetary policy.
The decree, submitted to Prime Minister Nguyen Tan Dung for approval, focuses on seven measures to closely monitor the gold market while still ensuring people's rights to keep and trade bullion.
Vietnamese and foreign individuals are banned from carrying gold bullion or gold materials when leaving or entering Vietnam, according to regulations recently issued by the State Bank of Vietnam.
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The gold bullion seized in the case (Source: //thoibaotaichinhvietnam.vn) 
