KAMCO to Auction Over 290 Billion KRW Worth of Properties... 365 Items Priced Below 70% of Appraised Value

[Asia Economy Reporter Ki Ha-young] Korea Asset Management Corporation (KAMCO) announced on the 24th that it will auction 1,270 items worth 290.2 billion KRW, including 210 residential buildings such as apartments and houses nationwide, through Onbid from the 27th to the 29th.

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 as many as 365 items priced at 70% or less of the appraised value.

When bidding in the auction, attention must be paid to the rights analysis, and the buyer is responsible for evicting 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 undeliverable notices.

New auction items will be announced on the 29th through Onbid, and more detailed information can be found on the Onbid website under ‘Real Estate or Movable Property > Announcement > KAMCO Seized Property.’

This content was produced with the assistance of AI translation services.