Total of 313 items, appraised value of 226 million won,
View of the Gyeonggi Province Government Building. Photo credit = Gyeonggi Province,
, ‘[Seoul Economic Daily]’,
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, ‘Gyeonggi Province will conduct an online auction from December 1 to 3 for 313 items seized from high-value and habitual local tax delinquents.’,
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, ‘The auction will include 155 pieces of jewelry, 7 luxury watches, and 67 luxury bags, totaling 313 items with an appraised value of approximately 226 million won. Key items include a golden pig (appraised value of 22.08 million won), a gold medal (13.52 million won), a Chanel bag (2.5 million won), and a Rolex watch (2.4 million won).’,
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, ‘The public sale of seized movable assets is a measure to recover hidden assets of high-value delinquents and to realize tax justice, with Gyeonggi Province being the only local government in the country conducting such direct auctions of movable property. Participants can engage in electronic bidding via smartphone or PC, and the winning bids will be announced at 10 a.m. on December 5. The detailed list will be available on the Korea Asset Management Corporation’s auction website starting from the 24th.’,
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, ‘The province has introduced a system to reassure bidders that if any auction item turns out to be counterfeit, their payment will be refunded, and compensation up to 100% of the appraised value (minimum bid) will be provided.’,
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, ‘Noh Seung-ho, Director of the Gyeonggi Province Tax Justice Department, stated, “All auction items were seized from the residences of chronic delinquents avoiding their tax obligations. We will continue with thorough tax administration and stringent penalties for delinquents to foster a society where diligent taxpayers are respected.”’,
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