KAMCO Announces Public Auction of Seized Assets Worth 187.3 Billion KRW

Ticket Gate Results Announced on August 25

[Asia Economy Reporter Sim Nayoung] Korea Asset Management Corporation (KAMCO) will auction 1,302 items worth 187.3 billion KRW, including 294 residential buildings such as apartments and houses nationwide, through Onbid from the 22nd to the 24th.

The auctioned items are those requested by public institutions such as tax offices and local governments to KAMCO for auction in order to collect delinquent taxes. This auction includes 416 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 buyer is responsible for eviction of tenants, 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 August 24 (Wednesday) through Onbid, and more detailed information can be found on the Onbid website under ‘Real Estate or Movable Property > Announcement > KAMCO Seized Assets.’

KAMCO shares auction information on public assets, including seized properties, through the Onbid website and the Smart Onbid app to promote free use of auction information by the public and activate public asset transactions.