Government to Sell Non-Listed Securities Worth 275.1 Billion KRW as National Tax Payment in Kind

[Asia Economy Reporter Jang Sehee] The government announced on the 12th that it will sell unlisted stocks worth 275.1 billion KRW owned by the state through a public bidding process on Onbid, operated by the Korea Asset Management Corporation, starting from September 6.

On the same day, the government held the State Property Policy Deliberation Committee meeting to review and approve the proposed sale price for the first batch of national tax payment securities in 2021.

National tax payment securities are unlisted stocks held by the state, received as payment for inheritance tax in securities instead of cash, and their prices are evaluated annually according to the State Property Act.

The average government shareholding ratio across 61 items is 14.5%, with DS Chemtech Co., Ltd. (50.00%·2.6 billion KRW), CL Co., Ltd. (49.995%·5.8 billion KRW), and Yuil Co., Ltd. (35.84%·1.4 billion KRW) ranking highest.

The bidding will be conducted in four rounds. The first and second rounds will be held at the initial sale price, and from the third round, the price will be reduced by 10 percentage points from the initial sale price each time. Bidding will proceed up to the fourth round with a maximum 20% price reduction.

If the bidding fails through the fourth round, a private contract can be made at the reduced price (80%) until the next sale price is determined.

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