Public Auction of Seized Properties Worth 158.3 Billion KRW Including Apartments Starting Next Week

Includes Many Items with Appraised Value Below 70%

Provided by Kamco

[Asia Economy Reporter Minwoo Lee] Korea Asset Management Corporation (KAMCO) is auctioning residential buildings, including seized apartments, worth 153.8 billion KRW.

KAMCO announced on the 4th that from the 7th to the 8th, it will auction 729 items nationwide worth 158.3 billion KRW, including 93 residential buildings such as apartments and houses, through 'Onbid'.

The auctioned items are properties entrusted to KAMCO for auction by public institutions such as tax offices and local governments to collect delinquent taxes. This auction includes 228 items priced at 70% or less of the appraised value.

New auction items will be announced on Onbid on the 8th. More detailed information can be found on the Onbid website. KAMCO discloses bidding information for public assets, including seized properties, through the Onbid website and the Smart Onbid application (app).

A KAMCO official advised, "When bidding in the auction, it is important to carefully analyze the rights, and buyers should be aware that they are responsible for evicting tenants." They also cautioned that auctions 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.