Korean Man Dies Homeless With $100,000 in the Bank

[Coventina]

Source: New York Times

SEOUL — A homeless South Korean man died of cancer without being able to use a single penny of his life savings of $100,000 because he could not prove his identity to his bank, officials said Wednesday.

Residents of the Yongbong district of Gwangju, in southwestern South Korea, knew little about the quiet man who had drifted into their neighborhood in 2007. He pulled a cart during the day to collect and sell scrap metal and other junk and slept in the cart or a shipping container.

“He never begged. When people offered him help, he said he had money saved and didn’t need help,” Yoo Joon-soo, a district official in Yongbong, said by telephone. “He said he was going to buy a house.” In mid-April, he looked so fragile that Mr. Yoo and others ignored his protests and called an ambulance. He was diagnosed with terminal pancreatic cancer.

The man then told the officials that his name was Na Hae-dong and that he had been born May 23, 1953, two months before the Korean War ended.


Read more: http://www.nytimes.com/2009/05/07/world/asia/07korea.html?ref=world

[thereismore]

1. This could never happen here.

:sarcasm:

[WriteDown]

2. How did he prove his identity to open the bank account in the

first place?

[Judi Lynn]

3. From the article:

Mr. Na had 128 million won in a bank account opened under his name decades ago. But in 1993, South Korea introduced an anti-corruption law that required an account holder to prove that the account had been opened under the holder’s real name before withdrawing money. People were given a grace period during which they could transfer their money to real-name accounts.

Apparently, Mr. Na had never heard of the law. But he had continued depositing his few earnings into the account. When he went to his bank after the cancer had been diagnosed, however, he could not take out his savings because, officially, he did not exist.

Local officials filed for court approval to give him an identity. But before the court ruled, Mr. Na died in the hospital on April 28.

His savings were expected to be donated to the state. He had no other belongings except his cart, a wristwatch and a quilt.

[Vidar]

4. Right out of a Dickens novel. Tragic.