Gyeonggi Province Collects 460 Million Won Through Auction of Seized Items from Delinquent Taxpayers

Gyeonggi Province has collected 460 million won in taxes through the public auction of seized items from delinquent taxpayers.

On December 9, Gyeonggi Provincial Government announced that from December 1 to December 3, a total of 268 items were successfully bid on during an online public auction of seized goods from high-value tax delinquents. The province collected a total of 460 million won in overdue taxes, consisting of 270 million won from auction proceeds and 190 million won paid voluntarily by some delinquent taxpayers prior to the auction.

Since October, Gyeonggi Province has operated a "Zero Delinquency Focus Period" to realize tax justice and eradicate chronic tax delinquency practices. In cooperation with city and county governments, the province conducted home searches of high-value and habitual tax delinquents. As a result, 313 high-value movable assets such as luxury watches and jewelry were seized and put up for online public auction from December 1 to 3. A total of 1,094 people participated in the auction.

Gyeonggi Provincial Government

Major auctioned items included a 37.5g gold turtle, which sold for 8.76 million won-30% higher than its minimum bid price of 6.75 million won. A Chanel bag with a minimum bid of 2.5 million won was sold for 5.91 million won. Other items included a Rolex watch for 4.41 million won, a Bottega Veneta bag for 3.25 million won, a Louis Vuitton bag for 2.15 million won, and a Royal Salute 32-year-old whiskey for 520,000 won.

Gyeonggi Province was the first in the country to introduce public sales of seized movable property in 2015, and has held such auctions annually ever since.

Following the introduction of offline auctions, Gyeonggi Province established an online auction system in 2020, allowing for easy participation via smartphones and PCs. Notably, this year, other local governments such as Jeju Province also used Gyeonggi’s auction platform to sell seized items from delinquent taxpayers.

No Seungho, Director of the Tax Justice Division at Gyeonggi Province, stated, "All items in this auction were seized from the residences of high-value and habitual tax delinquents who evaded their tax obligations," and added, "We will continue rigorous tax administration and strong measures against delinquents to ensure a society where diligent taxpayers are respected."

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