KAMCO to Auction Seized Assets Worth 70 Billion Won

by Sim NaYoung

Published 15 Apr.2022 10:44(KST)

The Voting Results Will Be Announced on April 21

[Asia Economy Reporter Sim Nayoung] KAMCO (Korea Asset Management Corporation) will auction 815 items worth 70 billion KRW, including 123 residential buildings such as apartments and houses nationwide, through Onbid over three days from the 18th to the 20th.

The auctioned items are those requested by public institutions such as tax offices and local governments to KAMCO for auction in order to collect delinquent taxes. This auction includes 212 items priced at 70% or less of the appraised value, making it worth the attention of actual buyers.

When bidding in the auction, careful analysis of rights is necessary, and the responsibility for eviction of tenants lies with the buyer, so caution is required. Also, keep in mind that the auction of the item may be canceled before bidding due to reasons such as tax payment or undeliverable notices.

New auction items will be announced on the 20th through Onbid, and more detailed information can be found on the Onbid website under ‘Real Estate or Movable Property > Announcement > KAMCO Seized Assets.’

KAMCO is opening and sharing auction information on public assets, including seized properties, through the Onbid website and the Smart Onbid app to promote the free use of auction information by the public and to revitalize public asset transactions.