179 children aged five or younger reported income from property rentals

South Korean tax records show that 179 children aged five or younger reported income from real-estate rentals in 2024, bringing the number close to 200 despite their age. The figures came from data submitted by the National Tax Service to Moon Jin-seok, a Democratic Party lawmaker on the National Assembly’s Planning and Finance Committee.

Nine of the children were aged between zero and one. The figures rose with age: 15 two-year-olds, 33 three-year-olds, 51 four-year-olds and 71 five-year-olds reported rental income. Average income per person ranged from 12.3 million won among two-year-olds to 18.4 million won among three-year-olds. Children aged zero to one averaged 14.7 million won.

The number of children aged five or younger reporting rental income has declined from 252 in 2020 and 250 in 2022 to 217 in 2023 and 179 in 2024. They represented 0.01% of South Korea’s 1.582 million children in that age group, based on resident-registration population data.

Across all minors aged 18 or younger, 3,233 people reported real-estate rental income totaling 55.584 billion won. They accounted for 0.04% of the 7.325 million people in that age range, with average income of 17.2 million won per person.

Moon said the figures reflected the effect of early inheritance and gifts. He urged the National Tax Service to examine the sources of funds used to acquire property in minors’ names and to closely check for irregular inheritance or gifting.

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The National Tax Service should examine the sources of funds for property held in minors’ names and closely check whether there has been any irregular inheritance or gifting.