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[BUSINESS] · South Korea · 3 sources

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Part of situation: South Korean minor real estate and tax concerns (2 clusters)

South Korea minor home purchases rise nearly twofold

minor home purchases real estate market gift tax evasion South Korea housing Hwang Hee

As of August this year, home purchases by minors aged 0 to 19 in South Korea reached 66 cases, representing a 1.8-fold increase compared to the 37 cases recorded last year. The total purchase amount reached approximately 23.1 billion won, a 9.5% increase from the previous year's 21.1 billion won.

Data provided by the Ministry of Land, Infrastructure and Transport to Representative Hwang Hee indicates that 56.7% of these funds, totaling 13.1 billion won, were reported as 'self-funded' through sources such as savings, stocks, and bond sales. On average, minors purchased properties valued at 350 million won, reporting roughly 200 million won of their own funds.

Seoul accounted for the majority of the activity with 53 transactions, representing 80% of the total volume. In several Seoul districts, including Jongno and Geumcheon, the reported self-funding ratio was 100%. Representative Hwang raised concerns regarding the possibility of irregular gift tax evasion or the misuse of corporate funds, calling for strict investigations by the Ministry of Land, Infrastructure and Transport and the National Tax Service.

Entities

Hwang Hee · Ministry of Land, Infrastructure and Transport · National Tax Service · Seoul · South Korea

Claims

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Sources

“어른도 내 집 마련 힘든데”…미성년자 집주인 2배 가까이 - 진일보 | 전남일보 [www.jnilbo.com]
‘131억원이 내 돈?’ 올해 집 산 청소년, 벌써 작년의 1.8배 [부동산360] [biz.heraldcorp.com]
'내 집 마련' 미성년자 늘었다…매수금 절반 이상은 '본인 돈' [www.mbn.co.kr]