KAMCO Publishes 'Auction Trend Report'... "2,704 Auctions, Winning Bid Rate at 84.9%"

Foreclosure (Seized Property) Trend Report Cover. Photo by Korea Asset Management Corporation

[Asia Economy Reporter Song Seung-seop] Korea Asset Management Corporation (KAMCO) announced on the 12th that it will publish the ‘Public Auction (Seized Property) Trend Report’ and plans to release it quarterly going forward.

This report was created to actively disclose data on seized property public auctions and to assist understanding and participation in bidding. The report contains information on quarterly sales status and trends of seized properties, sales status by region and usage, analysis of successful bidders, comparison of winning bid rates between public and private auctions, and notable popular items.

According to the inaugural issue, 2,704 public auction bids were conducted in the second quarter of this year. Among them, 1,725 cases (63.8%) were successfully bid, recording a winning bid rate of 84.9% and a competition rate of 2.81:1.

Although the number of bids slightly decreased compared to the same period last year due to the postponement of seized property sales after COVID-19, the number of successful bids and winning rates increased due to growing interest in public auctions.

Additionally, compared to the first half of the year, which included preparation periods for bidding, the number of actual bids in the second half is expected to increase, with more auction items from July to November anticipated.

KAMCO plans to hold a quiz and survey event on its website until the 12th of next month to gather public ideas and opinions to be additionally reflected in the public auction report. Among those who answer the quiz correctly, 100 people will be selected by lottery to receive a small mobile coupon.

Hong Young, Head of KAMCO’s National Property Division, emphasized, “We hope the public auction report will help increase public understanding and accessibility to seized property auctions,” and added, “We will continue to provide diverse and useful public auction statistics to expand the base of participation in public auction bidding.”

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