Includes Children 5 and Under... Rep. Moon Jin-seok Calls for Inspection into Alleged Illicit Inheritance and Gifts

More than 20 minor business owners in South Korea earn an annual salary exceeding 100 million won. The list includes preschool children aged 5 and under, sparking controversies over unconventional and illicit wealth transfers.

According to data submitted by the National Health Insurance Service to Rep. Moon Jin-seok of the Democratic Party of Korea and a member of the National Assembly's Strategy and Finance Committee on the 21st, a total of 1,909 business owners aged 18 or younger (based on workplace health insurance subscribers) were registered nationwide over the five-year period from 2021 to 2025. This averages out to 382 minors per year.

By age group (based on yearly averages), those aged 11 to 15 accounted for the largest share with 151 individuals. They were followed by 129 individuals aged 16 to 18, and 81 individuals aged 6 to 10. Infants and toddlers aged 0 to 5 also numbered 22.

Regarding salary levels, a total of 21 minor CEOs were found to earn over 100 million won annually. Notably, this group included one infant aged 0 to 5. Among those making over 100 million won, 11 to 15-year-olds were the most numerous at 12, followed by 6 aged 16 to 18, and 2 aged 6 to 10. Meanwhile, 43 individuals earned between 50 million and 100 million won, and 318 earned 50 million won or less.

Out of the average 382 minor representatives, more than half—237 individuals—were concentrated in Seoul. Gyeonggi Province (69), Incheon (23), and Busan (19) followed. The 21 representatives earning over 100 million won were similarly concentrated in the capital area, led by Seoul (12), Incheon (4), Gyeonggi (3), Busan (1), and Gyeongnam (1), with zero representation in the remaining 11 cities and provinces.

By industry, real estate rental businesses—such as commercial buildings and officetels inherited from parents or grandparents—were overwhelmingly dominant. An analysis of the top 100 earners over the past five years showed that real estate, leasing, and business services accounted for 95 of them (an average of 19 per year), while wholesale/retail and consumer goods repair services accounted for 4, and manufacturing represented just 1.

Rep. Moon pointed out, "The reality where a child who hasn't even been weaned off diapers is registered as a CEO earning a 100-million-won salary exposes the ugly truth of asset polarization in our society." He added, "The National Tax Service and the National Health Insurance Service must launch a joint inspection to check whether family-owned corporations are being exploited for illicit wealth transfers or tax-evading income distribution."

[ⓒ Global Economic Times. 무단전재-재배포 금지]