South KoreaThe house went to auction. Can I get my deposit back?
Yes, you may get your deposit back if the auction fails or is cancelled, but only if you were not at fault and the deposit was paid before the auction date.
What the Law Says
South Korean law regulates auction deposits under the Civil Execution Act. The rules specify when a bidder may recover their deposit after a real estate or asset auction.
Under the Civil Execution Act, a bidder who pays a deposit to participate in a court-ordered auction may request a refund if the auction is cancelled, fails (e.g., no bids meet reserve price), or is withdrawn by the court — provided the bidder did not cause the failure.
The deposit must be paid before the auction date and cannot exceed 10% of the appraised value or KRW 30 million, whichever is lower.
If eligible, the court must refund the deposit within 30 days of the auction’s cancellation or conclusion without sale.
Statutory TextWhere an auction is cancelled or fails, the court shall return the deposit to the bidder without delay, but no later than thirty days from the date of cancellation or failure.
— Civil Execution Act, Art. 152 — Refund of Deposit
Statutory TextThe deposit shall not exceed ten percent of the appraised value of the property, provided that it shall not exceed thirty million won.
— Enforcement Rules under the Civil Execution Act, Art. 127 — Amount of Deposit
What to Do
Confirm whether the auction was officially cancelled or failed (check court notice or contact the executing court).
Submit a written refund request to the court that held the auction, including your bid number and deposit receipt.
If no response within 30 days, file a motion for enforcement of refund with the same court.
Sources
Not legal advice. This article is general information based on publicly available sources, written for educational purposes. Laws change and individual situations vary. Consult a licensed attorney in your jurisdiction before acting on anything you read here. Last reviewed: 2026-06-08.