Paju-si to Publicly Auction Seized Movable Property Including Luxury Watches of Delinquents on the 26th

Joint Public Auction Conducted by 43 Local Governments Nationwide

Paju City, Gyeonggi Province (Mayor Kim Kyung-il) announced on the 20th that it will publicly auction luxury handbags, watches, and precious metals seized from high-value local tax delinquents on the 26th.

Notice of Sale of Seized Movable Property Due to Local Tax Delinquency. Provided by Paju City

The public auction, held at the Grand Ballroom on the 3rd floor of KINTEX Exhibition Hall 1 in Ilsan, Goyang City, will be jointly participated by 43 local governments nationwide, including Daegu, Gangwon, Jeonbuk, and Jeju, in addition to cities and counties in Gyeonggi Province.

Bidding via a smartphone app will be available only to on-site participants from 9 a.m. to 12 p.m. After the announcement of successful bidders at 3 p.m., payment and item handover will occur simultaneously.

The auction items include 95 seized items from Paju City, along with approximately 835 luxury handbags, watches, precious metals, gift certificates, and more. Items range from a Rolex watch appraised at 4 million KRW to items priced as low as 50,000 KRW.

The auction method awards the item to the highest bidder who bids above the minimum bid price (appraised value) for each item, and the items can be viewed on the Korea Auction Corporation website.

From last year through October this year, the city searched the homes of 105 high-value tax delinquents, seizing a total of 871 items including luxury handbags, watches, and precious metals, collecting 510 million KRW.

A Paju City official stated, “These auction items are movable properties seized from the homes of malicious delinquents who deliberately evade their tax obligations. We will continue to carry out strong collection activities targeting high-value and habitual delinquents who have the ability to pay but fail to settle their tax arrears.”

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