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Foreign Exchange Transactions Act — Article 10 (Obligations in Performing Business Affairs)

외국환거래법 제10조

This English translation is based on the Korean text effective 2021-09-16. The Korean law has since been amended (current version effective 2026-01-02) — check the Korean original.

(1) When a foreign exchange agency, a specialized foreign exchange dealer, and a foreign exchange broker (hereinafter referred to as the "foreign exchange agency, etc.") make transactions subject hereto with their customers, it shall confirm whether transactions, payments or receipts of their customers are permitted or reported under this Acts: Provided, That this shall not apply to cases determined and publicly notified by the Minister of Economy and Finance to stabilize supply and demand for foreign exchange and to facilitate foreign transactions. <Amended on Jan. 17, 2017>

(2) No foreign exchange agency, etc. shall conduct any of the following acts to gain unfair profit or to make a third party gain unfair profit in connection with foreign exchange affairs: <Newly Inserted on Jan. 17, 2017>

1. An act of changing or fixing the market price of any foreign exchange;

2. An act similar to the one prescribed in subparagraph 1, which undermines sound transaction order prescribed by Presidential Decree.[This Article Wholly Amended on Jan. 30, 2009][Title Amended on Jan. 17, 2017]

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