Items below 70% of appraised value 43%... KAMCO auctions 37 billion KRW worth of seized assets

Conducted over 3 days from the 14th to 16th... 38 cases in residential buildings including apartments and houses

Provided by Korea Asset Management Corporation (KAMCO)

[Asia Economy Reporter Minwoo Lee] Korea Asset Management Corporation (KAMCO) is conducting a public auction worth 37 billion KRW, including apartments and houses. In this auction, the proportion of items priced at 70% or less of the appraised value reaches 43%.

KAMCO announced on the 11th that it will hold a public auction of 429 items worth 37 billion KRW, including 38 residential buildings such as apartments and houses nationwide, through 'Onbid' for three days from the 14th to the 16th.

The auctioned items are those entrusted to KAMCO by public institutions such as tax offices and local governments to collect delinquent taxes. This auction includes 185 items (43.1%) priced at 70% or less of the appraised value.

New auction items will be announced on Onbid on the 16th. Detailed information can be found in the announcement section under 'Real Estate or Movable Property' on the Onbid website.

A KAMCO official stated, "When bidding in the public auction, careful analysis of rights is necessary, and the responsibility for eviction of tenants lies with the buyer, so caution is required." He added, "Also, keep in mind that the auction of the item may be canceled before bidding due to reasons such as tax payment or undeliverable notices."

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