KAMCO Announces Public Auction of Seized Assets Worth 239.2 Billion KRW

The ticket gate results will be announced on November 5th

[Asia Economy Reporter Park Sun-mi] Korea Asset Management Corporation (KAMCO) announced on the 30th that it will hold a public auction of 1,295 items worth 239.2 billion KRW, including 220 residential buildings such as apartments and houses nationwide, through Onbid for three days from the 2nd to the 4th of next month.

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 as many as 450 items priced at 70% or less of the appraised value, making it worth the attention of actual buyers.

When bidding in the auction, careful analysis of rights is necessary, and the responsibility for eviction of tenants lies with the buyer, so caution is required. Also, it should be kept in mind that the auction of the relevant items may be canceled before bidding due to reasons such as tax payment or failure of delivery.

New auction items will be announced on November 4th through Onbid, and more detailed information can be found on the Onbid website under ‘Real Estate or Movable Property > Announcement > KAMCO Seized Assets.’