From a News1 interview dated November 3, 2017.
"Attorney Jaesun Yoon of Law Firm Changchun said: 'It appears the nominee made full use of the gift regime to minimize inheritance tax and prepare in advance through gifts.' He explained: 'Making a gift to a minor child and then applying for gift tax payment in annual installments, paying the tax out of the rental income, is a basic technique used by those who manage assets.'
As to the nominee's wife having split her mother's commercial property into land and building and transferring one by gift and the other by sale, he explained: 'It appears to have been aimed at lowering the gift tax base while also, since buildings are subject to VAT, obtaining a VAT deduction on the amount paid for the building.'
Mr. Yoon added: 'Here too, so long as the sale and the gift were formally lawful, it is not illegal,' while noting, 'What is clear is that there are signs of careful consulting (for tax minimization) across the gifted assets as a whole.'"