Korea Asset Management Corporation, 1177 Properties Worth 231.3 Billion KRW Auctioned

Major items scheduled for sale. Photo by Korea Asset Management Corporation

[Asia Economy Reporter Song Seung-seop] Korea Asset Management Corporation (KAMCO) announced on the 20th that it will auction 1,177 items worth approximately 231.3 billion KRW over three days starting from the 23rd.

The auction involves items entrusted to KAMCO by public institutions such as tax offices and local governments to collect delinquent taxes. Among the items, 285 are priced at 70% or less of their 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. The auction may be canceled before bidding due to reasons such as tax payment or inability to deliver notices.

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