"While Young People in Their 20s and 30s Worry About Jeonse Fraud"... 1,440 Homeowners Aged 5 or Younger Who Haven't Even Started Elementary School

Total housing assets of children aged five or younger reach 236 billion won
Real estate income: 2.74 billion won

A total of 1,440 children aged 5 or younger were found to own homes. Of these, 56 owned two or more homes.

The Grand Xi apartment complex in Mapo-gu, Seoul. The photo is not related to the specific subject of the article. Photo by Kang Jinhyung.

According to Yonhap News Agency on October 16, Jeon Yong-gi, a Democratic Party of Korea lawmaker on the National Assembly’s Land, Infrastructure and Transport Committee, said he had reached this conclusion after analyzing data titled "Homeowners Aged 5 or Younger," submitted by the Ministry of Data and Statistics.

The data showed that, as of 2024, 1,440 children aged 5 or younger owned homes. The total assessed value of the homes they owned reached 236.05 billion won. Of these children, 56 owned two or more homes.

Real estate income earned by preschool-age children also amounted to billions of won. According to National Tax Service data, children aged 5 or younger earned 2.74 billion won in real estate income in 2024.

"While young people are struggling with worries about jeonse fraud, let alone being able to buy a home, the reality is that some children own multiple homes before they even start elementary school," Jeon said. "We need to correct the structure that is widening the wealth gap through unearned real estate income and strengthen policy efforts to channel funds concentrated in real estate into productive investment."

This content was produced with the assistance of AI translation services.