KAMCO Announces Public Auction of Seized Assets Worth 42.8 Billion Won
The Voting Results Will Be Announced on December 17
[Asia Economy Reporter Park Sun-mi] Korea Asset Management Corporation (KAMCO) announced on the 11th that it will auction 460 items worth 42.8 billion KRW, including 84 residential buildings such as apartments and houses nationwide, through Onbid over three days from the 14th to the 16th.
The auctioned items are properties entrusted to KAMCO by public institutions such as tax offices and local governments to collect delinquent taxes. This auction includes 236 items priced at 70% or less of the appraised value.
When bidding in the auction, careful attention must be paid to rights analysis, and the buyer is responsible for eviction of tenants, so caution is required. Also, keep in mind that the auction of the relevant items may be canceled before bidding due to reasons such as tax payment or undeliverable notices.
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New auction items will be announced on the 16th 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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