Deposits for minors exceed KRW 5 trillion
‘Diamond spoon’ worth 10 billion won
▲ It was found that the balance of deposits of minors in commercial banks exceeded 5 trillion won this year. The minor who held the largest amount amounted to 10 billion won (not related to the article above). Seoul Shinmun DB found that the balance of deposits of minors in commercial banks exceeded 5 trillion won this year. The minor who held the largest amount amounted to 10 billion won.
According to data submitted by the Financial Supervisory Service on the 27th by People Power Party lawmaker Yoo Yu-dong, a member of the National Assembly’s Political Affairs Committee, there were 2.8 million deposit accounts for minors in five commercial banks, with the total amount exceeding 5 trillion won.
As for minors’ deposits at commercial banks, the number of accounts has steadily decreased since 2020, while the balance has continued to increase.
Compared to KRW 4.463 trillion held in 3,009,491 accounts in 2020, the number of accounts decreased by 6.9% (209,788), while the deposit balance increased by 13.1% (KRW 588.2 billion).
By section, deposits of ‘less than 10 million won’ accounted for the largest proportion of the balance at 2.9866 trillion won (2.608975).
Next, ▲’10 million to less than 50 million won’ 1,551.4 billion won (83,842) ▲’100 million to less than 500 million won’ 224.7 billion won (1,131) ▲’50 million to less than 100 million won’ 161.2 billion won (2,165) ▲’Over 500 million won’ was followed by 103.4 billion won (91).▲ The balance of deposits of minors in commercial banks was found to have exceeded 5 trillion won this year. The minor who held the largest amount amounted to 10 billion won. Yonhap News As of July of this year, the ‘Diamond Spoon’ minor with the largest deposit was found to be 10 billion won.
Overall, the number of small accounts has decreased, but the number of large-value accounts worth more than 100 million won is steadily increasing. The number of accounts under 10 million won continued to decrease, and the number of accounts under 10 million won to 500 million won increased.
Rep. Yoo said, “The balance of deposits held by minors in commercial banks is continuously increasing,” and added, “Financial authorities need to carefully examine whether there are any problems in the fund formation process of minors with large balances and whether they are faithfully fulfilling their tax obligations.” emphasized.
The number of minors paying ‘comprehensive real estate tax’ increased by 60%
The number of minors paying comprehensive real estate tax also increased by more than 60% in one year. Minors’ real estate transfer income also increased.
Over the past four years, the total income earned by minors from dividend income and rental income alone has exceeded 1 trillion won.
According to the ‘Status of Comprehensive Real Estate Tax Decisions for Minors (2018-2022)’ submitted by the National Tax Service to the office of Democratic Party of Korea Representative Kang Jun-hyun, a member of the Planning and Finance Committee of the National Assembly, the number of minors (under 19 years of age) subject to comprehensive real estate tax payment last year was 1,099, compared to 673 a year ago (673). number increased by 426.
The size of comprehensive tax for minors also increased from 1.651 billion won to 1.948 billion won. The number of minors paying comprehensive real estate tax has increased every year, including 225 in 2018 and 305 in 2019, exceeding 1,000 last year. ▲ Current status of minors’ deposits at the five major commercial banks. The amount of real estate capital gains provided by Rep. Ui-dong Ui’s office is also showing an increasing trend.
A total of 1,083 minors reported real estate transfer income in 2021, and the amount of their transfer income was calculated to be 83.4 billion won.
It has more than doubled in just three years, resulting in a capital gain of 77 million won per reported minor.
Although the demand for fairness in society as a whole has increased, the ‘parental opportunity’ regarding capital is increasingly expanding.
As the government is discussing inheritance and gift tax cuts, the phenomenon of wealth being passed down is expected to become more severe in the future.
Reporter Kim Chae-hyun
2023-09-27 08:59:05
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