[Asia Economy Reporter Ryu Taemin] Korea Asset Management Corporation (KAMCO) announced on the 16th that it will auction a total of 832 items, including 219 residential buildings such as apartments and houses nationwide, through the online auction system "Onbid" over three days from the 18th to the 20th. The total scale of the auctioned items amounts to 102.2 billion KRW, and the bid results will be announced on the 21st.
The auctioned items are those entrusted to KAMCO by public institutions such as tax offices and local governments to collect delinquent taxes. According to KAMCO, this auction includes as many as 493 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 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 Onbid homepage on the 20th. KAMCO is opening and sharing auction information on public assets, including seized properties, through the Onbid homepage and the Smart Onbid app to promote free use of auction information by the public and to revitalize public asset transactions.
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