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734 Newborns Received 67.1 Billion Won in 2024, Tax Data Show

A lawmaker urged closer audits of gifts to children over suspected manipulative transfers or tax evasion.

Overview

  • Babies under one received an average of just over 90 million won each, with the count rising by 98 from 2023 to 734.
  • Financial assets dominated newborn transfers with 554 cases totaling 39 billion won, followed by 156 securities cases worth 18.6 billion won, plus smaller shares in land and buildings.
  • Across all minors, 14,217 transfers were reported in 2024 totaling about 1.24 trillion won, averaging roughly 87.1 million won per child, with cases edging up from 2023 as the total value declined.
  • Older teens saw the largest average transfers, led by age 16 at 147.19 million won, with 17- and 18-year-olds also exceeding 110 million won on average.
  • Newborn transfer totals swung in recent years, from 9.1 billion won in 2020 to peaks in 2021–2022, a drop in 2023, and a rebound to 67.1 billion won last year.