KAMCO to Auction Seized Assets Worth 159 Billion KRW
The Ticket Gate Results Will Be Announced on August 27
[Asia Economy Reporter Park Sun-mi] Korea Asset Management Corporation (KAMCO) will auction 1,231 items worth 159 billion KRW, including 204 residential buildings such as apartments and houses nationwide, through Onbid from the 24th to the 26th.
This auction includes 381 items priced at 70% or less of the appraised value. Newly auctioned items will be announced on the 26th through Onbid, and more detailed information can be found on the Onbid website under ‘Real Estate or Movable Property > Announcement > KAMCO Seized Assets’.
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The auctioned items are those entrusted to KAMCO by public institutions such as tax offices and local governments to collect delinquent taxes. Bidders should pay attention to rights analysis during the auction, and the responsibility for eviction of tenants lies with the buyer, so caution is required. Additionally, auctions may be canceled before bidding due to reasons such as tax payment or undeliverable notices.
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