Business · Economy · 2 hrs ago
Minors in South Korea Received 1.4 Trillion Won in Property Gifts Over Five Years
Grandparents gave minors property worth 1.3957 trillion won in South Korea from 2021 to 2025, according to tax office data submitted to parliament.
The gifts used a method that passes property directly to grandchildren, bypassing their parents.
This is called a generation-skipping gift, and it can face a gift-tax surcharge of up to 40%.
Families may still use it because skipping a generation can reduce tax over time.
Buildings made up 58% of the gifted property’s value, with land making up the rest.
In the latest year covered, minors aged 13 to 18 received the largest amount, while children aged six and younger received 313 billion won.
The scale of the transfers has raised questions about tax payments and where the money came from, and calls have been made for closer checks and possible rule changes.
Minors in South Korea received property worth 1.3957 trillion won through generation-skipping gifts from 2021 to 2025, according to tax authority data submitted to parliament.
The gifts included land and buildings transferred directly to grandchildren without passing through their parents.
Buildings accounted for 58% of the five-year total, valued at 813.2 billion won.
In 2025, recipients aged 13 to 18 received the most property, worth 47.8 billion won.
Children aged six and under received property worth 31.3 billion won in 2025.
- Who
- Minors in South Korea, including grandchildren who received property directly from grandparents.
- What
- They received land and buildings worth 1.3957 trillion won through generation-skipping gifts over five years.
- When
- From 2021 to 2025.
- Where
- South Korea.
- Why
- The article says this method can reduce long-term tax burdens by skipping a generation, despite a gift-tax surcharge of up to 40%.
This story does not have two clearly opposing sides.
Minors received land and buildings worth 1.3957 trillion won through generation-skipping gifts, according to tax authority data submitted to parliament.
Recipients aged 13 to 18 received 47.8 billion won in property, while children aged six and under received 31.3 billion won.
Maeil Business published its report on the five-year total.
- Five-year total
- 1.3957 trillion won
- Period covered
- 2021–2025
- Building gifts
- 813.2 billion won; 58% of the total
- Largest age group in 2025
- Ages 13–18; 47.8 billion won
- Recipients aged six and under in 2025
- 31.3 billion won