KAMCO to Auction Seized Assets Worth 140.5 Billion KRW from 9th to 11th

[Asia Economy Reporter Ryu Tae-min] Korea Asset Management Corporation (KAMCO) announced on the 6th that it will auction a total of 1182 items worth 140.5 billion KRW on the online public asset disposal system Onbid from the 9th to the 11th.

This auction includes 194 residential buildings, such as a detached house in Naegok-dong, Seocho-gu, Seoul (appraised value approximately 3.17 billion KRW). Among the auction items, 283 are priced at 70% or less of the appraised value.

The auction items were requested for auction by public institutions such as tax offices and local governments to KAMCO in order to collect delinquent taxes.

KAMCO explained that bidders should pay attention to rights analysis when bidding, and that the responsibility for evicting tenants after winning the bid lies with the buyer, so caution is required. Also, it should be kept in mind that the auction of the item may be canceled before bidding due to reasons such as tax payment or undeliverable notices.

Meanwhile, KAMCO is opening and sharing auction information on public assets, including seized properties, through the Onbid website and the Smart Onbid app to promote the use of auction information by the public and to revitalize public asset transactions.

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