SEOUL, March 17 (Korea Bizwire) — The government decided Thursday to allow large companies to advance into the secondhand car market despite opposition from small players in the business. A deliberation committee under the Ministry of SMEs and Startups decided not to designate secondhand vehicles sales as one of the “livelihood businesses” that must be [...]
SEOUL, Nov. 30 (Korea Bizwire) — The used car market in South Korea is expected to break the record of 3.78 million transactions this year as an increasing number of consumers are shifting their focus to used cars. The Ministry of Land, Infrastructure and Transport announced on Thursday that the number of used car transactions [...]
Seoul, Jan. 22 (Korea Bizwire) — Growing demand for foreign vehicles in South Korea has spilled over into the used car market, as more than one quarter of all used cars are now from foreign brands. According to data released by used car company SK Encar last week, foreign cars traded on its website now account [...]
SEOUL, June 20 (Korea Bizwire) – Compact cars are the most popular in the South Korean used-car market, according to a new industry report. Online open market SK Encar said on Monday that of all types of used-cars, compact cars took the shortest time to sell, spending 28.4 days on average on offer during the [...]
SEOUL, May 20 (Korea Bizwire) — The Korean government is set to mark used cars with a red license plate and apply a three-strikes law to used car dealers who swindle their customers, according to congressman Kim Seong-tae who presented plans on May 18. As used cars are sometimes smuggled into other countries or used [...]