Minor's Dividend Income Nears 300 Billion Won... Top 1% Earn Over 100 Million Won Per Person

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] Last year, dividend income for minors approached 300 billion won, nearly doubling over the past five years.

According to data on minors' dividend income received by Yang Kyung-sook, a member of the National Assembly's Planning and Finance Committee from the Democratic Party, from the National Tax Service on the 24th, 172,942 minors earned dividend income last year, with a total dividend income amounting to 288.9 billion won.

Since 2015, the total dividend income increased by approximately 140 billion won (94%). The average dividend income per person also rose from 860,000 won to 1.67 million won.

There were also 427 newborns aged 0 who earned dividend income immediately after birth last year. Their dividend income totaled 391 million won.

The top 0.1% of minors receiving dividends, 172 individuals, earned 87.178 billion won in dividends, averaging 507 million won per person. The top 1%, 1,729 individuals, earned 194.143 billion won in dividend income, averaging 112 million won per person. Assembly member Yang Kyung-sook stated, "Inheritance and gifts targeting minors serve as a channel for class inheritance and break the ladder of social mobility," adding, "The National Tax Service must rigorously monitor whether there are any loopholes in gifts to minors, often called 'Geumsujeo' (gold spoons), and ensure that taxes are thoroughly imposed."

This content was produced with the assistance of AI translation services.