Staggering W50 Billion Worth of Lottery Prizes Unclaimed Each Year

  • By Choi Jong-seok

    February 23, 2021 10:39

    Something on the order of W50 billion worth of lottery prizes go unclaimed every year (US$1=W1,113).

    The Ministry of Economy and Finance said on Monday that W52.1 billion worth of lottery prizes were unclaimed as of November last year.

    The amount reached W54.2 billion in 2016, W47.4 billion in 2017, W50.1 billion in 2018 and W53.8 billion in 2019.

    Lottery winners must claim their prizes within a year. Prizes that are unclaimed by the stipulated deadlines are appropriated by the ministry for the purpose of supporting low-income families and other underprivileged people.

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