Kamco Signs Memorandum of Understanding for Investment-Type Sale of National Tax Payment Securities

On the 21st, at the Korea Asset Management Corporation (KAMCO) Seoul headquarters, Hong Young, Head of KAMCO's National Property Division (left in the photo), and Choi Kyung-heum, CEO of PIA Asset Management (right in the photo), signed a memorandum of understanding for the investment-type sale of national tax payment securities and took a commemorative photo.

[Asia Economy Reporter Kim Hyo-jin] Korea Asset Management Corporation (KAMCO) announced on the 22nd that it signed a memorandum of understanding (MOU) for investment-type sales of national tax payment-in-kind securities at its Seoul office. National tax payment-in-kind securities refer to stocks paid by taxpayers who are unable to make cash payments, in accordance with the Inheritance and Gift Tax Act.

The MOU signing held the previous day is part of the government's economic policy direction for the second half of 2020 and represents the first case of 'investment-type sales' aimed at revitalizing the sale of national tax payment-in-kind securities by introducing external professional evaluations and expanding the sales target to institutional investors.

Through the MOU, KAMCO and the asset management company mutually agreed on future sales procedures, including ▲providing information on payment-in-kind companies ▲external price evaluation ▲due diligence of equity sale companies.

Hong Young, Head of KAMCO's National Property Headquarters, stated, “With the signing of this MOU, the 'investment-type sales system' for national tax payment-in-kind securities has been officially introduced and implemented,” adding, “By expanding the sale of unlisted payment-in-kind securities to institutional investors, KAMCO will revitalize the sale of national tax payment-in-kind securities and contribute to increasing national fiscal revenue.”

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