Art auction company K Auction has been selected by the Korea Deposit Insurance Corporation as the sales agent for the sale of art pieces from bankruptcy estates.
K Auction announced on the 10th that it has signed a consignment contract with the Korea Deposit Insurance Corporation. With this selection as the sales agent, K Auction will enter into consignment contracts for artworks held by financial institutions and others under bankruptcy estates managed by the Korea Deposit Insurance Corporation during the two-year business period, and will carry out art management, sales strategy planning, and sales operations.
Earlier, on the 6th, K Auction was also selected as a specialized sales agency for the National Tax Service's seized artworks, handling the sale of artworks seized by regional tax offices and tax authorities.
A K Auction official stated, "With the selection as the sales agent, K Auction has once again confirmed its expertise and credibility in art sales from public institutions," adding, "We will do our best to contribute to the public interest functions carried out by the Korea Deposit Insurance Corporation and ensure that the artworks return well to those who enjoy culture and the arts."
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