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Underage people hold 2 tln won worth of shares

2018/10/11 14:59

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SEOUL, Oct. 11 (Yonhap) -- People under the age of 18 held about 2 trillion won (US$1.8 billion) worth of stocks in South Korea at the end of last year, data showed Thursday.

According to the data compiled by Korea Securities Depository (KSD), underage people held a total of 154.8 million shares in 2,045 listed firms at the end of last year.

Thirteen underage shareholders held more than 10 billion won worth of shares each, the data showed.

An infant owned 30,000 shares worth 1 billion won in Sempio Foods Co., which makes and sells soy-based sauces in South Korea, according to the data.

In a statement, Rep. Kim Byung-wook of the ruling Democratic Party said transfers of stocks to children showed a widening gap between haves and have-nots, urging the government to improve regulations on stock transfers.