SEOUL, Aug. 22 (Korea Bizwire) — After BMW Korea’s recent decision to recall its vehicles, the price of used BMWs is falling with the number of cars being sold stagnating. This is according to SK Encar, South Korea’s biggest online used car market, which surveyed current market prices and number of vehicles sold for BMW’s [...]
SEOUL, April 24 (Korea Bizwire) – An increasing number of people have junked their cars this year, statistics showed Monday, apparently to take advantage of a government-backed trade-in program for old diesel-powered vehicles. A tally from the Ministry of Land, Infrastructure and Transport said 210,705 cars were scrapped in the January-March period this year, up [...]
SEOUL, April 6 (Korea Bizwire) – Transactions of used cars in South Korea hit a record high in February, government data showed Wednesday, amid a protracted economic slump. A total of 283,875 second-hand cars were registered in February, marking the largest number in any past February results, according to the data compiled by the Ministry [...]
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 [...]