November 02, 2017 12:19
More than 500 juveniles get regular dividends of more than W100 million a year from stocks they inherited or were given by their parents or other relatives (US$1=W1,115). Some 1,800 youngsters also earn rental income from real estate.
According to the National Tax Service, 529 juveniles reported stock dividend income in 2015, each making on W134 million a year. That was more than the average annual stock dividend earned by adults of W131 million.
Also in 2015, 1,795 juveniles reported rental income from their own real estate to the tune of W19.48 million a year on average.
Minjoo Party lawmaker Kim Du-kwan, who obtained the information from NTS, said, "Lawful gifts or inheritances are not a problem, but a system where juveniles earn more money than adults from stocks or real estate they were given by their parents needs to change."
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