The Compulsory Enforcement Act Article 80-1

Where the floor price of the auction of an immovable property is insufficient to repay the priority claims and the costs of compulsory enforcement, the enforcement court shall notify the creditor of it. Within 7 days after the creditor receives the notification, he/she may prove that the selling price of the immovable property is likely to be sufficient or designate an auction floor price that exceeds the total amount of the claim and the costs, and represent to pay the costs if the auction is not concluded, and petition for an auction. Where the creditor does not make the petition within the specified period, the enforcement court shall revoke the attachment and return the immovable property to the debtor. Where the auction is carried out upon the creditor's petition pursuant to the preceding paragraph yet is not concluded, and the creditor refuses to accept the property, the enforcement court shall make a public announcement stating that those who are willing to purchase the immovable property may bid in accordance with the auction terms within three months. The enforcement court may approve the bid after consulting the creditor's and the debtor's opinion. The same applies when the creditor is willing to accept it. Where no person bids or accepts within the specified period, the enforcement court shall revoke the attachment and return the immovable property to the debtor. Where the auction of the immovable property is petitioned by the mortgagee with higher priority or other priority claimants, the preceding two paragraphs do not apply.The provisions of paragraphs 1 and 2 pertaining to the revocation of the attachment and the return of the immovable property to the debtor do not apply when the immovable property has been sent for the compulsory administration or when the creditor has petitioned for the compulsory administration and the enforcement court deems it of merits.