December 19, 2018 08:28
Minors have earned more than W530 billion in profits from stocks and real estate given as a "living inheritance" to save death duties, according to data from the National Tax Service.
Some 2,979 minors earned W353.6 billion in profits from stocks they were given by parents or other relatives between 2012 and 2016, and 9,181 of them reported proceeds of W184.5 billion from real estate (US$1=W1,130).
Koreans must report financial profits of over W20 million and real estate rental earnings of more than W1 million.
Over the five-year period, each minor earned on average W119 million from stocks and W20 million from renting out real estate.
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