KAMCO Announces Public Auction of 1,653 Seized Properties Worth 236.6 Billion KRW

[Asia Economy Reporter Kwangho Lee] Korea Asset Management Corporation (KAMCO) announced on the 2nd that it will hold a public auction of 1,653 items worth 236.6 billion KRW, including 255 residential buildings such as apartments and houses nationwide, through Onbid for three days from the 4th to the 6th.

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

This auction includes as many as 510 items priced at 70% or less of the appraised value, making it worth the interest of actual buyers.

When bidding in the auction, attention should be paid to the analysis of rights, 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 6th through Onbid, and more detailed information can be found on the Onbid website.