Customs authorities on Tuesday announced a plan to launch a nationwide special inspection targeting suspected illegal trade and foreign exchange (FX) practices amid the continued depreciation of the local currency. The inspection will cover 1,138 companies whose reported export and import data show significant discrepancies with trade payments processed through banks, the Korea Customs Service (KCS) said. The move comes as part of broader efforts in responding to the continued depreciation of the Korean won. The won dropped further Tuesday morning, hovering below 1,470 against the U.S. dollar shortly after recovering from a near 16-year low. "Supporting foreign exchange rate stability will be a key task for the agency this year," KCS Commissioner Lee Myeong-ku said in a press release, pledging a strict crackdown on illegal trade and foreign exchange activities. The probe will prioritize inspecting companies at high risk of illegal foreign exchange transactions based on additional analyses of trade performance and financial transaction data. The KCS emphasized that further criminal investi