Hyundai Glovis Launches Korea's First Non-Face-to-Face Used Car Auction Service

[Asia Economy Reporter Yu Je-hoon] Hyundai Glovis announced on the 24th that it has launched the 'Autobel Smart Auction' service, a new digital auction system exclusively for used car dealers. Autobel Smart Auction is the first non-face-to-face used car auction system in Korea, built by Hyundai Glovis using cloud services.

Autobel Smart Auction was developed to integrate the offline used car auctions independently operated by Hyundai Glovis every week at auction sites in Bundang (Seongnam, Gyeonggi), Siwha (Ansan, Gyeonggi), and Yangsan (Gyeongnam) into one system using cloud services.

By consolidating used car listing information, which was previously processed separately on servers at each auction site, into a single large cloud server for comprehensive management, Hyundai Glovis explained that detailed information sharing of used cars is now possible, along with real-time remote bidding via PC and mobile devices.

To achieve this, Hyundai Glovis incorporated ▲a 4-lane real-time bidding system ▲various new technologies such as augmented reality. This reduced auction time by approximately 60% compared to before and enhanced convenience by displaying various vehicle information in augmented reality format through a mobile application.

Additionally, vehicle release procedures have been digitized. By using the Autobel Smart Auction service, ancillary tasks such as cost settlement and delivery requests can be handled online without face-to-face interaction.

Hyundai Glovis expects that the growth of the auction industry through this service will increase transparency and reliability in used car transactions. A Hyundai Glovis official stated, "The Autobel Smart Auction service realizes the digitalization of the auction system, maximizing convenience for dealers and consignors, and represents an innovative model for used car wholesale." He added, "We will continuously develop new systems and improve service quality so that car auctions can lead the advancement of the domestic used car market."

Meanwhile, Hyundai Glovis has distributed a cumulative total of 1.1 million vehicles over 19 years since starting its first used car auction in Bundang in 2001 until February this year. Currently, about 7,500 vehicles are traded monthly at three auction sites nationwide. Reporter Yu Je-hoon kalamal@

This content was produced with the assistance of AI translation services.