Last year, 734 newborns in South Korea received an average of approximately 100 million won in property gifts. This represents a continuous increase since 2020, coinciding with rising asset prices during the COVID-19 pandemic. The gifted assets were primarily financial assets, with an average of approximately 91.41 million won given to newborns. Among all minors, the gift amount was highest for those aged 16 to 18. Rep. Park Sung-hoon of the People Power Party demanded that tax authorities conduct active investigations and follow-up management regarding such loophole-exploiting gifts and tax evasion.
