A Korean man living on Jeju Island bought a refrigerator containing kimchi online. While he was cleaning the new cabinet, he discovered that there was a lot of cash hidden under the cabinet.
Finding $130K under an old fridge
Discovering a large amount of money worth up to $130K, the man immediately reported the incident to the police. The police have seized the money to investigate the specific origin.
Currently, they have begun to investigate the seller as well as those involved in the transportation during the delivery to trace.
The cash was wrapped in a plastic bag, taped just below the refrigerator. If this man had not carefully cleaned the refrigerator, this cash would never have been found.
Bundles of banknotes wrapped in plastic paper glued under the refrigerator contain kimchi
“It’s a large amount of money. We rarely see such a case,” police said.
Many Korean people hide their money at home
According to the Lost and Found Law in Korea, if the owner of the item does not appear within 6 months, the money will go to the person who found it. This person has to pay 22% tax. However, if the owner is found, they will have to deduct 5 to 20% as compensation to the person who found the money.
According to a report published in the Korea Times in February 2016, people storing cash in refrigerators containing kimchi is a real thing in Korea.
At the time, Korea was in a situation where bank deposit interest rates were at record lows. As for the rich, they don’t deposit all their cash in the bank.
Many people divide the amount of money and then store part of the cash in the kimchi refrigerator because this is the location where the temperature and humidity are believed to be ideal for storing banknotes.