1-Year-Olds with 40 Million Won in Investment Income… The Scale of "Minor Financial Income"

This hot topic is "40 million won in interest and dividends at age 1."

It turns out that some babies celebrating their first birthdays have financial incomes reaching up to 40 million won a year.

The number of minors who earned 20 million won or more annually exceeds 1,600.

Let us take a look at the related report.

According to data submitted by the National Tax Service to the National Assembly, 1,606 minors reported financial income during the 2024 comprehensive income tax filing process.

Their total reported income amounted to 166.9 billion won, which translates to an average of approximately 104 million won per person based on simple calculation.

Among them, 5 were counted as being 1 year old.

The financial income reported by these infants totaled 197 million won, averaging close to 40 million won per person.

It is estimated that the financial income of minors mostly stems from stocks and deposits gifted or inherited from parents or grandparents.

Lawful gifts and inheritances are by no means a problem.

However, some point out that a thorough inspection is necessary to check whether gift taxes were properly reported during the process of transferring assets under the names of young children, and whether parents are managing assets through borrowed-name accounts.
※ Please note: This article was translated by AI and may contain errors.