KAMCO to Auction Seized Assets Worth 88.5 Billion Won... Bid Opening Results Announced on July 5

[Asia Economy Reporter Kwangho Lee] Korea Asset Management Corporation (KAMCO) announced on the 31st that it will auction 719 items worth 88.5 billion KRW, including 127 residential buildings such as apartments and houses nationwide, through Onbid from the 2nd to the 4th of next month.

The auctioned items are those requested by public institutions such as tax offices and local governments to KAMCO for the collection of delinquent taxes.

This auction includes 376 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, keep in mind that the auction of the item may be canceled before bidding due to reasons such as tax payment or inability to deliver notices.

New auction items will be announced on Onbid on the 4th of next month, and more detailed information can be found on the Onbid website.