Police Investigating Unclaimed Checks Worth W100 Million

Kyung Ho Kim, Oct. 5, 2015, 9:11 a.m.


Police are investigating an envelope with W100 million in checks that was found in a trash dump in the luxurious Tower Palace apartment in southern Seoul (US$1=W1,183). According to police, a cleaning lady discovered the bag on Friday night and called the police. 



She found the money in a suitcase that had been placed in the recycling area of the apartment. Police said the money consisted of W1 million checks issued by 12 different branches of four banks since last year.  Such checks are legal tender and commonly used for larger purchases since the biggest banknote is W50,000.

Police are tracing the notes. If the owner cannot be identified, a notice will be put up. If the owner is found, the cleaning lady is entitled to a reward of between W5 million and W20 million, or five to 20 percent of the value of found property.  If no owner steps up six months after the notice is posted, all the money is hers.

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