KAMCO Announces Public Auction of State-Owned Securities Worth 138.6 Billion KRW

Public Bidding via Onbid Starting November 23

[Asia Economy Reporter Park Sun-mi] Korea Asset Management Corporation (KAMCO) announced on the 9th that it will sell 138.6 billion KRW worth of state-owned securities through a public bidding process on Onbid starting from the 23rd.

The unlisted securities being sold this time are issued by a total of 52 corporations, including ▲16 in manufacturing ▲17 in construction ▲9 in wholesale and retail ▲5 in real estate and leasing ▲5 in other industries.

The bidding for the sale of unlisted securities will be conducted in four rounds starting at 100% of the expected sale price. For items that fail twice, from the third round onward, the bidding price will be gradually reduced by 10% of the initial expected sale price each round. For items that fail more than twice, private contracts are also possible until the day before the next bid under the conditions of the previous round’s sale.

However, according to the Enforcement Decree of the State Property Act, persons who have paid national taxes (such as inheritance tax, gift tax, etc.) in unlisted securities (including the person who paid and joint tax obligors) and their family members under civil law cannot purchase the relevant unlisted securities for less than the payment value.

Bidders wishing to participate must deposit at least 5% of their bid amount into a designated virtual account during the bidding period through Onbid. If successful, they must sign the stock trading contract within 5 days from the date of winning the bid and complete full payment within 60 days. In the case of installment payments, the payment schedule and period (up to one year) can be set to pay the amount.

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