SEOUL, June 16 (Korea Bizwire) — As the economic slump prolongs due to the outbreak of the coronavirus, an increasing number of people are seeking to generate extra income by selling used items while pursuing practical consumption.
According to app analysis firm Wise App, the used item transaction app Danggeun Market saw its number of users skyrocket to 6.79 million in May 2020, a 182 percent increase from 2.41 million a year earlier.
Sellers of used items have a high level of satisfaction with this type of transaction since they can sell items they no longer use at an appropriate price.
Even buyers have a positive response to this type of transaction since they can buy items they need at a cheaper price.
The outbreak of the coronavirus brought a change to the pattern of used item transactions in a way that favors so-called ‘untact’ transactions. The term ‘untact’ refers to the refusal of person-to-person interaction.
However, along with the increase in the number of used item transactions, the risk of being exposed to fraud has also increased.
According to the Korea Internet & Security Agency, South Korea’s state-run cybersecurity body, the number of applications for e-commerce-related disputes and mediation stood at 20,845 cases last year, up 11 percent from a year before.
The most common type of fraud related to used item transactions is that the seller asks the buyer to remit cash first and then disappears without sending the item.
Given that the transactions of used items will likely be positioned as a new trend due to COVID-19, experts stress the need to develop specific systems to protect buyers from fraudulent activity.
J. S. Shin (firstname.lastname@example.org)