Junggonara Records 5 Trillion KRW in Transactions Last Year, Up 43% Year-on-Year
Increase in New Members Due to COVID-19 Leading to Diversification of Traded Items
Expansion of Transaction Scale Due to Launch of New IT Products
[Asia Economy Reporter Kim Cheol-hyun] Junggonara, a secondhand trading platform, announced on the 18th that the cumulative secondhand transaction volume last year reached a record high of 5 trillion KRW. This represents a 43% increase compared to the previous year. The daily number of product listings on Junggonara is approximately 390,000.
Junggonara analyzed that the expansion of transaction volume was due to the diversification of traded items, driven by a surge in new members joining the secondhand trading platform amid lifestyle changes caused by COVID-19 last year. From February to July last year, when the spread of COVID-19 began, Junggonara saw an increase of 550,000 new members. In particular, with remote work and online classes due to COVID-19, transactions of products in categories that previously had low trading volumes, such as children's goods, toys, games, plants, and indoor interior items, increased significantly.
Junggonara introduced safe payment systems and revised policies for users to ensure a secure secondhand trading platform environment. They expanded the monitoring team and strengthened internal investments, including the development of AI-based secondhand trading monitoring technology. After establishing the dedicated monitoring department, the 'Junggonara Clean Center,' reports of secondhand goods transaction damages dropped to an average of fewer than 10 cases per day, indicating improved transaction stability.
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Lee Seung-woo, CEO of Junggonara, stated, "By organizing the transaction environment in 2020 and implementing intensive internal organizational innovation, we achieved the largest expansion of the secondhand trading market since our founding." He added, "Going forward, Junggonara will continue to invest in technology to provide safe secondhand trading services for more users, driving innovation and change in the new secondhand trading platform market."
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