KAMCO Auctions 1,139 Items Worth 127.7 Billion Won

Major properties scheduled for sale by Korea Asset Management Corporation. Photo by Korea Asset Management Corporation

[Asia Economy Reporter Song Seung-seop] Korea Asset Management Corporation (KAMCO) will auction 1,139 items worth approximately 127.7 billion KRW over two days starting from the 17th.

The auctioned items are properties entrusted to KAMCO by tax offices and local governments to collect overdue taxes. According to KAMCO, this auction includes 239 items priced at 70% or less of their appraised value.

However, bidders should pay close attention to rights analysis during the auction, and buyers are responsible for evicting tenants, so caution is necessary. There is also a possibility that the auction may be canceled before bidding due to reasons such as tax payment or undeliverable notices.