NEWS BRIEF

[Anchor Lead]

People planning to travel abroad this Chuseok holiday will be able to bring in duty-free goods worth up to 800 dollars and two bottles of alcohol under one liter, instead of the current one. The finance ministry on Friday issued an advance legislation notice on revised enforcement rules to the Customs Act. The revision calls for raising travelers' duty-free allowance limit from 600 to 800 dollars, marking the first such hike in 8 years.
South Korea posted a current account surplus for the second consecutive month in June but the surplus volume has dropped by more than 3 billion dollars on-year due to higher import prices. According to tentative Bank of Korea data released today, the current account posted a surplus of 5.61 billion U.S. dollars in June. South Korea has recorded a current account surplus for 23 straight months from May 2020 to March this year before posting a deficit in April due to a spike in imports and overseas dividends. The account shifted back to a surplus in May.