[All] '75 million won wad of money' owner has not been heard from for a week... Will the finder and management office split it in half?

Police began searching for the owner of 75 million won in cash found twice in a flower bed in an apartment in Ulsan, but the owner has not appeared for a week.

According to the police on the 10th, at around 2 PM on the 4th, an apartment security guard in Okdong, Nam-gu, Ulsan discovered a black plastic bag containing 50 million won in cash in the apartment flower bed while on patrol. On the 6th, a sanitation worker reported to the police that he had discovered 25 million won in cash inside a black plastic bag about 1m away from the original discovery location.

There is also growing interest in how the 75 million won will be handled if the owner of the money is not identified until the end. If it is confirmed to be proceeds of crime, the entire amount will be returned to the state according to the 'Act on the Regulation and Punishment of Concealment of Proceeds of Crime.'

If there is no criminal involvement, it is recognized as a lost item and ownership can be returned to the finder. If the owner does not claim the right to the lost item within 6 months after the notice is given as prescribed by law, the finder acquires ownership.

If the owner of the money cannot be identified or never appears, and the police determine that there is no criminal involvement, it may be treated as lost property and ownership may revert to the finder.

In this incident, the apartment security guard and janitor reported to the police that they discovered 50 million won and 25 million won, respectively.

However, the Lost and Found Act stipulates that if someone else's property is found in a building with a manager, the actual finder and the building occupant must split the ownership in half when acquiring the property according to the Civil Act. Therefore, the finders, security guards and janitors, may end up sharing the ownership with the occupant of the apartment, such as the management office.

If you acquire ownership of a lost item, it is considered miscellaneous income under the Income Tax Act and you will receive the money minus a 22% tax.

The police are focusing on finding the owner of the money from various angles, including identifying the bank from which the cash was withdrawn and analyzing CCTV footage around the apartment complex.