Gyeonggi-do Collects 980 Million KRW from Tax Delinquents through Auction of Seized Items

[Asia Economy (Suwon) = Reporter Lee Young-gyu] Gyeonggi Province collected over 980 million won in delinquent taxes through the auction of seized items from tax delinquents.

Gyeonggi Province announced on the 1st that it secured 980 million won in delinquent taxes by conducting an online electronic auction of seized goods from high-amount local tax delinquents from the 23rd to the 29th of last month. A total of 573 auction items were listed, and 528 were successfully bid on.

On the morning of the 1st at 10 a.m., the province announced the auction winners through the Gyeonggi Province Dongsan Auction website.

More than 11,000 people participated in this auction, with about 29,000 bids placed, showing greater interest compared to last year's 8,000 participants and 18,000 bids.

Among the major items, a Rolex watch appraised at 7.5 million won was won by Mr. A with a bid of 8,799,900 won, and a Chanel flap bag appraised at 1.62 million won was won by Mr. B with a bid of 4.5 million won.

In the automobile auction introduced for the first time this time, a Cadillac appraised at 47 million won was won by Mr. C with a bid of 49.31 million won.

The province plans to allocate the entire 980 million won in local tax delinquency, including about 810 million won from the winning bids and about 170 million won voluntarily paid in full by 13 delinquent taxpayers before the auction.

Kim Min-kyung, head of the Tax Justice Division of the province, said, "Most of the items in this online electronic auction were movable properties seized from the homes of chronic delinquents lacking tax payment awareness," adding, "We will continue to develop new collection methods and foster a culture of sincere tax payment to ensure fair taxation."

Last September, the province sold 436 seized items through the nation's first non-face-to-face online electronic auction and collected a total of 460 million won in delinquent taxes.

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