47 Securities Received Instead of Inheritance Tax, 115.3 Billion KRW Scheduled for Sale

[Asia Economy Reporter Song Seung-seop] On the 28th, the government held the National Property Policy Deliberation Committee meeting in writing and decided the sale price of 47 national tax payment securities at 115.3 billion KRW.

National tax payment securities refer to unlisted securities held by the state, received as payment for inheritance tax in securities instead of cash. Every year, the price is determined by evaluating the asset value and income value of the companies making the payment according to the National Property Act, and finalizing the price through the Securities Subcommittee's deliberation.

The items with the highest expected sale prices were Jisan Resort at 36 billion KRW, YDP at 15.7 billion KRW, and Big Star Construction at 10.4 billion KRW. The average government shareholding ratio of the 47 items was 9.68%. Seongmo Industrial Development had the highest at 38.12%, followed by Bicycle Mart at 33.50%, and Samyang Textile Industry Co., Ltd. at 33.15%.

The 47 items will be publicly auctioned through Korea Asset Management Corporation's Onbid starting from December 16 next year. The first and second rounds will be at the initial expected sale price, and from the third round, the price will be reduced by 10 percentage points of the initial expected sale price each time. Bidding will proceed up to the fourth round only. However, for securities deemed necessary for rapid sale, auctions will proceed up to the seventh round.

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