KAMCO to Auction Seized Assets Worth 92.9 Billion Won Starting from the 30th

The Voting Results Will Be Announced on December 3

[Asia Economy Reporter Park Sun-mi] KAMCO (Korea Asset Management Corporation) announced on the 27th that it will auction 685 items worth 92.9 billion KRW, including 149 residential buildings such as apartments and houses nationwide, through Onbid for three days from the 30th of this month to December 2nd.

The auctioned items are those entrusted to KAMCO by public institutions such as tax offices and local governments to collect delinquent taxes. This auction includes as many as 272 items priced at 70% or less of the appraised value.

When bidding in the auction, careful attention must be paid to rights analysis, and the responsibility for eviction of tenants lies with the buyer, so caution is required. Also, keep in mind that the auction of the item may be canceled before bidding due to reasons such as tax payment or undeliverable notices.

New auction items will be announced on the Onbid website on the 2nd of next month, and more detailed information can be found on the Onbid homepage under ‘Real Estate or Movable Property > Announcement > KAMCO Seized Property.’