KAMCO Announces Public Auction of Seized Assets Worth 66.3 Billion Won

The voting results will be announced on Thursday, December 10

[Asia Economy Reporter Park Sun-mi] Korea Asset Management Corporation (KAMCO) announced on the 4th that it will auction 468 items worth 66.3 billion KRW, including 99 residential buildings such as apartments and houses nationwide, through Onbid from the 7th to the 9th for three days.

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 277 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 relevant items may be canceled before bidding due to reasons such as tax payment or undeliverable notices.

New auction items will be announced on the 9th through Onbid, and more detailed information can be found on the Onbid website under ‘Real Estate or Movable Property > Announcement > KAMCO Seized Assets.’