Hyundai Motor is offering up to 4 percent of the sale price as compensation, plus an additional 500,000 won off a new EV.
Rising prices and a shortage of new cars has caused a sharp increase in demand for used cars. "Used car prices are surging," said a used car business owner in western Seoul.
Kia will enter Korea’s used car market, the company announced Monday, after regulations that limited the industry to only small businesses was lifted early this year.
On March 17, the Ministry of SMEs and Startups announced that automakers could start selling secondhand cars.
Korea’s used car market needs to be opened up to big companies and even automakers, according to a conference held Monday.
Korea JoongAng Daily Sitemap
