Kabang Secures Real Estate Auction Information... "Enhancing Post-Management of Auctions and Mortgage Loans"

Partnership with TankAuction Providing Real Estate Auction and Public Sale Information
Offering Real-Time Auction Statistics and More

[Asia Economy Reporter Minwoo Lee] KakaoBank plans to enhance the auction management and post-management process of mortgage loans by utilizing real estate auction and public sale information as well as various statistical data.

On the 8th, KakaoBank announced that it has signed a contract with 'Tank Auction,' a provider of real estate auction and public sale information, to supply court auction information.

In cases where mortgage loan delinquency occurs and debt recovery proceeds through court auctions, Tank Auction will provide KakaoBank with real-time court auction information such as auction progress and changes in rights. Additionally, Tank Auction's nationwide auction case statistical data will also be provided to KakaoBank.

Going forward, KakaoBank plans to use the winning bid rate information by region and property to calculate the loan-to-value ratio and establish post-management procedures for secured loans.

A KakaoBank official explained, "Through cooperation with Tank Auction, we plan to efficiently manage auction cases based on automated information collection instead of manually managing various auction progress statuses," adding, "We will also establish a more systematic post-management procedure for secured loans in the future."

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