KAMCO to Auction 408 Seized Properties Worth 32.9 Billion Won

Announcement of Ticket Inspection Results on the 4th of Next Month

[Asia Economy Reporter Kwangho Lee] Korea Asset Management Corporation (KAMCO) announced on the 26th that it will auction 408 items worth 32.9 billion KRW, including 58 residential buildings such as apartments and houses nationwide, through Onbid from the 2nd to the 3rd of next month.

The auctioned items are properties entrusted to KAMCO by public institutions such as tax offices and local governments to collect delinquent taxes. This auction includes as many as 115 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 buyer is responsible for eviction of tenants, 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 through Onbid on the 3rd of next month, and more detailed information can be found on the Onbid website.

Meanwhile, KAMCO is opening and sharing auction information on public assets, including seized properties, through the Onbid website and the Smart Onbid application (app) to promote free use of auction information by the public and to revitalize public asset transactions.