KAMCO to Auction Seized Assets Worth 33.4 Billion Won... Bid Opening Results Announced on 18th

447 Residential Properties Including Apartments and Houses for Public Auction
New Auction Items Announced on Onbid on the 17th

[Asia Economy Reporter Kwangho Lee] Korea Asset Management Corporation (KAMCO) announced on the 11th that it will hold a public auction of 447 items worth 33.4 billion KRW, including 54 residential buildings such as apartments and houses nationwide, through Onbid from the 15th to the 17th for three days.

The auctioned items are those requested by public institutions such as tax offices and local governments to KAMCO for auction in order to collect delinquent taxes.

This auction includes as many as 117 items priced at 70% or less of the appraised value, making it worth the interest of actual buyers.

When bidding in the auction, attention must be paid to rights analysis, 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 inability to deliver notices.

New auction items will be announced on the 17th through Onbid, and more detailed information can be found on the Onbid website.