Some big-ticket purchases come with gifts that we are quick to discard. But not for this South Korean man who found something far more valuable instead.

He discovered 110 million won (S$130,000) in cash hidden underneath a kimchi refrigerator that he had purchased online, reported MBC News on Monday (Aug 9).

While cleaning the fridge, he found hundreds of 50,000 won bills covered in plastic and taped under the household appliance.

Instead of keeping the money, the Jeju resident went to the police to lodge a report on Aug 6.

A police officer who handled the case told MBC: "It was a large amount of money. It was absurd because we rarely had such cases."

The police are still investigating those who sold the item as well as those who transported the cargo to trace the money trail.

While many would not associate kimchi fridges with secret stashes, The Korea Times reported in 2015 that there were some South Koreans who started to hoard cash in kimchi fridges due to low bank interest rates at the time.

If filled with 50,000 won notes, a kimchi fridge can hold more than one billion won, according to the report.

According to the Lost and Found Act in South Korea, if the rightful owner can't be traced within six months, the cash will belong to the individual who discovered it (after paying a 22 per cent tax, that is).

However, if the owner is found, five to 20 per cent compensation will be paid to the person who discovered it.

If the money is connected to a crime, it will then be handed over to the state. 

READ ALSO: 'Never mind the 'kimchi wars': Many South Korean restaurants still use Chinese imports, survey shows

zakaria@asiaone.com

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