Statistical Terms

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Definition	Unlike property income or property insurance, it refers to transfer of income without a return service. There are mandatory and voluntary transfers.
Commentary	Mandatory transfers refer to transfers arising from legal obligations or law enforcement such as direct tax (income tax, corporate tax, etc.), levied fees & fines and penalties (driver license test fees, traffic violation fines) paid by households, social security contributions & benefits (health insurance and social security fund). Voluntary transfers refer to transfers between units on a voluntary basis which include expenses for congratulations and condolences and contributions to charitable, religious organizations.
Source	Bank of Korea (National Accounts)