The Korea Asset Management Corporation (KAMCO) announced that it has transferred the operation technology of its OnBid – an online auction system – to HCM City.

Onbid is the first online public auction platform in the Republic of Korea developed by KAMCO in 2002 to handle public property efficiently. KAMCO also discussed measures to install and operate the system in HCM City.

KAMCO CEO Kwon Nam-joo said the company has recently organised an OnBid training workshop for HCM City’s officials at the headquarters of the Busan International Financial Centre to promote the establishment and operation of the online auction system in the Vietnamese city.

In this training course, KAMCO shared experience in the operation of the system as well as specific cases such as the settlement process and online auction institution, and the structure, main tasks and business models of the system. — VNS