(image: Korea Bizwire)
SEOUL, March 31 (Korea Bizwire) — Registration hurdles for car repair, scrapping, and auctioneering businesses will be lowered to allow for an influx of new companies.
The Ministry of Land, Infrastructure and Transport announced Tuesday that a new bill that amends legislation on automobile management will soon take effect.
The bill significantly lowers the hurdles for new businesses by allowing them to rent facilities and essential equipment.
Previously, shops had to own all facilities and equipment to provide car repair services or host auctions. Now, businesses can register as long as they acquire facilities and equipment through lease.
Reflecting on the recent expansion of online auctions, the bill will also lift restrictions on the registration of automotive auction houses.
The ministry reported that 15 out of 21 automotive auction houses in the country currently hold online auctions.
The bill also deems businesses to have met registration requirements if they partner with repair shops, upon consideration that it is difficult for them to hire maintenance technicians.
The bill also repealed a 33-square-meter limit on the minimum space required for offices used by car scrapping firms and automotive auction houses, to allow more leeway for businesses setting up new offices.
M. H. Lee (mhlee@koreabizwire.com)
