Bundle of 50,000-won notes discovered in residential area of Incheon

Man in his 60s found cash while collecting used clothing, reported it to police

This image is unrelated to the article. [Image generated by AI]
This image is unrelated to the article. [Image generated by AI]

A man who found 25 million won ($18,400) in cash stuffed inside a trash bag in a residential neighborhood has been awarded ownership of the money after its original owner never came forward.

According to the Incheon Jeomulpo Police Station, the cash was discovered Feb. 10 inside a 20-liter standard garbage bag left beside a villa in Geumgok-dong, Jeomulpo-gu, Incheon.

The bills — 50,000-won notes bundled in stacks of 100, each wrapped in a Bank of Korea band — were found covered by clothing.

A man in his 60s, identified only by the surname initial A, came across the bundles while checking the bag for used clothing to collect and immediately reported the find to police.

Police launched an investigation to identify the owner and determine any criminal connection. They posted notices on the national lost-property portal and in local newspapers, and put up flyers near where the cash was found.

Officers also visited dozens of nearby households to ask whether anyone had lost the money, but no one came forward to claim ownership.

Fingerprint analysis failed to yield any identifying biological information, and footage from nearby closed-circuit television cameras showed nothing unusual.

Six months passed with the source of the money remaining a mystery.

Under South Korean law, if the owner of lost property does not assert a claim within six months of a public notice, ownership transfers to the finder.

A was found to have no disqualifying circumstances — such as failing to report or submit the find within seven days — and was therefore recognized as the rightful owner.

In August, A received a bank transfer of 19.23 million won after 5.77 million won was deducted for a 22 percent tax and the cost of the local newspaper notice, out of the original 25 million won.

"We confirmed there was no criminal connection, but the owner of the cash never appeared," a police official said. "We held the money through the national treasury before transferring it to A."


jshan@heraldcorp.com