INCHEON — A remarkable stroke of luck—and honesty—has resulted in a Incheon resident legally claiming a substantial sum of money found discarded in a residential alleyway earlier this year.

According to the Jemulpo Police Station in Incheon on September 2, authorities officially transferred 19,230,000 KRW in remaining cash to the original finder, a man in his 60s identified as Mr. A.

The unusual incident dates back to February, when Mr. A was sorting through old clothes inside a 20-liter standard waste disposal bag in an alley located in Geumgok-dong, Dong-gu (currently Jemulpo-gu), Incheon. While handling the clothes, he discovered bundles of cash hidden deep inside the fabric and immediately reported the find to the police. The recovered money consisted of 50,000 KRW banknotes, neatly bound in sets of 100 with Bank of Korea paper bands. In total, the cash amounted to 25,000,000 KRW.

Following the report, police launched a thorough investigation to track down the owner of the money. Investigators analyzed local closed-circuit television (CCTV) footage, conducted fingerprint analysis on the bundles and wrapping, interviewed neighborhood residents, posted flyers, and published missing property notices through the police civil portal and local newspapers.

Despite these exhaustive multi-angle efforts, the statutory six-month public notice period expired without a single person coming forward to claim ownership or file a lost property report. Under South Korea’s Lost Property Act, if a rightful claimant does not step forward within six months of public notification, the finder acquires full ownership of the recovered property.

Furthermore, police concluded through their investigation that there were no suspicious circumstances linking the cash to any criminal activity, clearing the way for Mr. A to claim legal ownership.

Upon taking official ownership of the funds, Mr. A received the net amount after necessary deductions. Under the Income Tax Act, the money was classified as miscellaneous income, resulting in a 22% public tax deduction alongside local newspaper publication fees totaling 5,770,000 KRW. Consequently, he was awarded the final payout of 19,230,000 KRW.

A police official stated, "No evidence of criminal involvement was found, and no rightful owner was identified within the legal timeframe. In accordance with the law and standard procedures, the unclaimed property previously kept in a national treasury account has now been lawfully disbursed to the finder."

The story has since drawn widespread public attention, highlighting both the honesty of the finder who immediately alerted authorities and the strict application of South Korea's property ownership laws.

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