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Business Areas
Government Commissioned Work
KAMCO enhances the value of national properties and contributes to increasing government revenue through efficient management and development of the properties based on its accumulated professional knowhow
Management of National Properties
KAMCO, as the largest national property management agency in the Republic of Korea, enhances the value of national properties through its innovative management practices. KAMCO was authorized to manage the state-owned properties owned by the Ministry of Economy and Finance, and is also entrusted with managing public properties owned by the local goverment. Properties include not only real estates, but also securities, vessels, vehicles, machines etc. all of which are managed with KAMCO's accumulated professional management techniques.
Specifically, management activities for national real estate include leasing or selling the national property and imposing indemnity for illegally-used lands. KAMCO manages approximately 700,000 parcels of national land, worth KRW 25 trillion, through efficient management and utilization, thereby contributing to the national revenue by more than KRW 1 trillion annually. Through its management activities, KAMCO will continue seeking to increase the value of national properties and facilitating the national economy.
Management and Development of National Properties
KAMCO carries out national property development projects that can provide public facilities needed by the central and local governments to increase goverment revenues and realize the welfare of residents. KAMCO is entrusted with projects to transform underused idle national properties into revenue generating facilities, thereby increasing their asset value and contributing to the fiscal soundness of the government. After the first development project, "Narakium Jeo-dong Building", KAMCO has successfully developed 32 state-owned properties, increasing the property value from KRW 139.7 bil to KRW 498 bil, by 3.6 folds, and increased the annual rental income from KRW 370 mil to KRW 55.9 bil, by 150 folds. As of 2022, KAMCO has completed 32 development projects of state-owned and pubilc properties in total. By enhancing and strengthening its capabilities as a pubilc developer, KAMCO will seek to fortify its position as the premiere national property management agency.
Improved Efficiency of Taxation System
KAMCO seeks to improve the efficiency of the taxation system and increase government revenue. KAMCO has taken many steps to accomplish these tasks. KAMCO has created a one-stop payment system for national taxes that interfaces with banks and the National Tax service, thus increasing the transparency and effectiveness of government and public services. It is also in charge of collecting delinquent taxes on behalf of central and local tax offices as well as collecting customs and fines on behalf of the National Police service. Additionally, KAMCO has been entrusted with the auctioning of assets confiscated from long-term tax delinquents – a task that increases governmental revenue.