KAMCO Signs First Sales Contract for Investment-Type Sale of National Tax Payment Securities

Hong Young, Director of the Korea Asset Management Corporation's National Property Headquarters (left), and Jo Gwangjae, CEO of JC Asset Management, are signing the stock trading contract for the investment-type sale of national tax payment securities and taking a commemorative photo.

[Asia Economy Reporter Kwangho Lee] Korea Asset Management Corporation (KAMCO) announced on the 29th that it has signed a stock sales contract for the 'investment-type sale' of national tax payment securities with JC Asset Management.

This stock sales contract signing is part of the government's '2020 Second Half Economic Policy Direction' and represents the first case of investment-type sale aimed at revitalizing the sale of national tax payment securities by introducing external professional institution evaluations and expanding the sale target to institutional investors.

In addition to the existing sales methods such as Onbid bidding, KAMCO newly introduced the investment-type sale system and, in line with the amendment of the Enforcement Decree of the State Property Act in September last year, achieved the first sales results through the new system targeting institutional investors and promotion and marketing of high-quality payment companies.

Hong Young, Head of KAMCO's State Property Headquarters, said, "With this sales contract signing, the investment-type sale system for national tax payment securities has been officially introduced and implemented," adding, "By expanding the sale target of unlisted payment securities to institutional investors, KAMCO will revitalize the sale of national tax payment securities and contribute to increasing national fiscal revenue."