Gyeonggi Province Collects 408 Million Won Through Public Auction of Seized Items from Delinquent Taxpayers

by Lee YeongKyu

Published 07 Sep.2025 10:02(KST)

Gyeonggi Province collected approximately 400 million won through the public auction of seized items from delinquent taxpayers.

On September 7, Gyeonggi Provincial Government announced that it had collected a total of 408 million won by conducting an online public auction of seized items from high-value delinquent taxpayers between August 25 and 27. This includes 278 million won from successful bids and an additional 130 million won paid voluntarily by delinquent taxpayers before the auction.

Since February, Gyeonggi Province, in cooperation with cities and counties, has conducted home searches targeting high-value and habitual tax delinquents, seizing and securing 502 high-priced movables such as luxury watches and jewelry. The final amount collected was confirmed after online bidding (August 25-27), announcement of successful bidders (August 29), and payment of auctioned amounts (September 1).

This auction garnered significant interest, as 2,710 participants placed over 20,000 bids, thanks to the convenience of participating via smartphone or PC.

Gyeonggi Provincial Government

Among the auctioned items, a Piaget watch was sold for 15.1 million won, about 40% higher than its starting bid of 10.8 million won.

Other notable items included a pure gold bracelet (6.1 million won), a Rolex watch (4.4 million won), and a Chanel bag (3.2 million won). A bottle of Royal Salute 38-year-old whisky, which retails for over 1.3 million won, was also sold for 870,000 won, drawing attention.

Gyeonggi Province plans to hold a "Second Electronic Auction of Seized Movables" in November, including 64 items that went unsold in this auction.

No Seungho, Director of the Tax Justice Division at Gyeonggi Province, stated, "All items in this auction were seized from the residences of chronic tax delinquents who evaded their tax obligations," adding, "We will continue to implement thorough tax administration and strong measures against delinquents to build a society where honest taxpayers are respected."