While heirs are forced to endure administrative burdens-having to visit banks and securities firms one by one to claim the deceased's deposits before they even have time to grieve-the Anti-Corruption and Civil Rights Commission is conducting a survey to promote the digital transformation of the inheritance account settlement process.
Kim Kiseon, Director of the Policy Improvement Bureau at the Anti-Corruption and Civil Rights Commission, is speaking at the Government Complex Sejong. Photo by Yonhap News.
The Anti-Corruption and Civil Rights Commission announced that from December 18 to December 31, it will conduct a public survey through the National Participation Platform to introduce an 'Integrated Settlement Service for Virtual Accounts of Inherited Financial Assets.' Based on the survey results, the commission plans to consult with relevant ministries to develop institutional improvement measures.
Currently, the Ministry of the Interior and Safety's 'Safe Inheritance One-Stop Service' allows heirs to check the deceased's financial assets at once, but to actually withdraw funds, heirs must visit each financial institution individually. They are required to submit duplicate documents such as consent forms from all heirs, certificates of seal impression, and powers of attorney to each institution, with each institution demanding different document formats. Additionally, services like automatic transfers are only available under the account holder's name, so the process of closing accounts in the deceased's name remains outside the scope of digital transformation.
The commission has devised a procedure that allows inheritance processing without in-person visits or paperwork. First, after heirs verify their identity through platforms such as 'Government24' and designate a representative heir, they can enter into an electronic agreement to delegate the authority to receive funds. The deceased's financial assets will then be automatically transferred to a consolidated virtual account in the name of the representative heir. Subsequently, the funds will be automatically distributed to each heir's account according to the agreed inheritance ratios.
Among those who participate in the survey, 100 respondents selected by lottery will receive a 5,000-won mobile gift certificate.
Kim Kiseon, Director of the Policy Improvement Bureau at the Anti-Corruption and Civil Rights Commission, stated, "Having to visit dozens of places to claim inherited assets is an outdated practice that does not fit the digital age," adding, "We will improve the relevant systems so that bereaved families do not have to shed tears twice due to administrative procedures."
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