Samsung's New Trade-In Program Draws Criticism Over Low Valuations | Be Korea-savvy

Samsung’s New Trade-In Program Draws Criticism Over Low Valuations


Samsung Electronics' newly launched "Galaxy Easy Trade-in" program (Photo: a screenshot from likewize website)

Samsung Electronics’ newly launched “Galaxy Easy Trade-in” program (Photo: a screenshot from likewize website)

SEOUL, Jan. 16 (Korea Bizwire) — Samsung Electronics’ newly launched “Galaxy Easy Trade-in” program, which began on January 14, is facing a consumer backlash over what many consider to be underwhelming trade-in values for used devices. 

The program, which operates through Samsung.com, allows consumers to sell their Galaxy smartphones without requiring the purchase of a new device.

According to the program’s website as of January 15, Galaxy S23 owners can receive up to 331,000 won for their device, while the Galaxy S23 Plus commands up to 394,000 won. The Ultra model in the same lineup offers a maximum trade-in value of 599,000 won. 

Samsung states that traded-in devices are classified into three grades—Excellent, Good, and Recycle—with compensation determined accordingly. The maximum trade-in values listed on the site correspond to the highest-capacity models in “Excellent” condition. 

These valuations fall significantly short—by up to 200,000 won in some cases—compared to prices on popular secondhand platforms like Mintit, Karrot Market, and Joonggonara.

As of January 13, a 512GB Galaxy S23 in A-grade condition was worth 435,000 won on Mintit, while the same-capacity S23 Plus model would fetch 525,000 won. 

On Karrot Market, the standard Galaxy S23 models were selling in the 400,000 won range, with S23 Plus models commanding between 500,000 and 600,000 won. Joonggonara showed similar average prices, with the high-end Galaxy 23 Ultra models and foldable devices also selling for a premium on all of the sites compared to the Likewize trade-in values.

Consumers have expressed their dissatisfaction on various platforms, with some calling the program’s participants “suckers.” On the Samsung Members community, users have posted comments like “I thought the prices were typos” and “How is this compensation?”

However, some defend the program, noting that Mintit’s A-grade standards are notoriously strict—so much that the term “Mintit standard” has become a colloquialism. They argue that Galaxy Easy Trade-in’s maximum values are actually reasonable when compared to Mintit’s B-grade prices, typically exceeding them by 20,000 to 40,000 won. The program is also known for having relatively lenient standards for achieving its “Excellent” grade.

A representative from Likewize, the program’s operator, stated, “This trade-in program, operated in collaboration with Samsung, aims to provide favorable compensation to as many customers as possible,” adding, “We will work to establish it as a program that offers practical benefits to customers.”

Kevin Lee (kevinlee@koreabizwire.com)  

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