kor
Business Areas
On-line Bidding
OnBid System
Onbid, an abbreviation of “online bidding”, combines KAMCO’s half-century public auction experience and know-how with the latest information technology. OnBid gathers and integrates the auction information from KAMCO and all public institutions. It provides a one-stop public auction system that can be accessed through the Internet. Everything from submitting a bid, selecting a successful bidder, providing an electronic contract and refunding deposit money, can now be done online.
Sales and Rental of Government Properties
In October 2002, KAMCO started an auction service, OnBid - the first public online auction system in Korea. Since the government designated OnBid as its official auction system in 2002, OnBid has been used by over 19,000 corporate members to sell and lease government properties.
Increasing Utilization of Customized Online Services
KAMCO built a state-of-the-art IT system that directly interfaces with government data systems to allow real-time retrieval of information such as announcements, offerings and biddings. This and other advances increased the popularity of the system among public organizations. As a result, in 2022, Onbid marked over 50 million successful bids, worth of over KRW 100 trillion on an accumulated basis.
Implementation of One-stop Service
In addition to online bidding and electronic contracting services, OnBid in 2008, started implementing online application services for title transfer of real estate for properties sold in biddings. KAMCO plans to continue innovating and improving the OnBid system to provide increasingly differentiated high-quality services to our clients.