The 20-Year-Old KAMCO Public Auction System 'Onbid'... Cumulative Transaction Amount Reaches 100 Trillion Won

Cumulative Number of Participants Exceeds 2.46 Million

[Asia Economy Reporter Minwoo Lee] The transaction volume through the Korea Asset Management Corporation (KAMCO)'s online public auction system has surpassed 100 trillion won.

KAMCO announced on the 12th that the cumulative transaction volume of 'Onbid,' the online public auction system celebrating its 20th anniversary, has exceeded 100 trillion won, and the cumulative number of bidders has surpassed 2.46 million.

In particular, internet bidding participation has significantly increased since COVID-19. Since 2020, the number of internet bidders has reached approximately 527,000, accounting for 21.4% of the total cumulative participants. The bidding competition rate also rose from an average of 4.7 to 1 before COVID-19 to 5.9 to 1 after 2020. As a result, the cumulative transaction amount exceeded 100 trillion won just 15 months after surpassing 90 trillion won in July last year.

Meanwhile, to commemorate the 20th anniversary of Onbid, KAMCO held a ceremony in the extended virtual world (metaverse) on the same day. The event featured ▲ a 20th anniversary commemorative video ▲ awards for Onbid usage reviews and startup competitions ▲ and the unveiling of typography for the winning entries of the 20th anniversary slogan contest.

Kwon Nam-joo, President of KAMCO, stated, "Going forward, KAMCO will continue to strive to ensure that Onbid, as a trusted platform for public asset transactions, can be utilized to further improve the lives of the people."

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