KAMCO to Auction Seized Assets Worth 155 Billion KRW

Announcement of Ticket Gate Results on October 29

[Asia Economy Reporter Park Sun-mi] Korea Asset Management Corporation (KAMCO) will auction 801 items worth 155 billion KRW, including 112 residential buildings such as apartments and houses nationwide, through Onbid from the 26th to the 28th.

The auctioned items are properties entrusted to KAMCO for auction by public institutions such as tax offices and local governments to collect delinquent taxes. This auction includes 456 items priced at 70% or less of the appraised value.

New auction items will be announced on the 28th via Onbid, and more detailed information can be found on the Onbid website under ‘Real Estate or Movable Property > Announcement > KAMCO Seized Property’.

A KAMCO official stated, "Bidders should pay attention to rights analysis during the auction, and the responsibility for eviction of tenants lies with the buyer, so caution is required. Also, please keep in mind that the auction of the item may be canceled before bidding due to reasons such as tax payment or undeliverable notices."