South Korea’s customs office has uncovered a chip smuggling operation involving 53,000 chips worth USD 11.6 million, considered the biggest chip smuggling bust by value yet. An entire company, ‘Company A,’ was behind the operation, and prosecutors charged all its executives with the crime.
The chips were smuggled to China through Korea, and the operation was carried out over three years. The chips in question were made to convert analog signals to digital and have been under export and import restrictions since 2020.
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