Discussion Resumes on Entry of Major Automakers into Used Car Market...Consultative Body Launches on the 9th

[Asia Economy Reporter Ki-min Lee] A consultative body to discuss the entry of major automakers into the used car market will be launched on the 9th.

According to related industries on the 8th, a signing ceremony for the launch of the "Automobile Sales Industry Development Council," led by the Democratic Party's Euljiro Committee, will be held at the National Assembly on the 9th.

The consultative body is expected to include major automakers such as the Korea Automobile Manufacturers Association (KAMA) and the Korea Imported Automobile Dealers Association (KAIDA), used car industry groups such as the Korea Used Car Dealers Association Federation and the National Used Car Dealers Association Federation, as well as government bodies including the Ministry of Land, Infrastructure and Transport and the Ministry of SMEs and Startups. Professor Kim Pil-soo of Daelim University’s Department of Automotive Studies will serve as the communication representative and lead the meetings.

Previously, the automakers and used car industry attempted to launch the "Used Car Win-Win Cooperation Committee" in February, but it was canceled after the used car industry notified of their absence the day before the inauguration ceremony.

The consultative body’s operation period is set at a basic two months, with a possible extension of up to one month if more discussion time is needed. If no results are reached within the total three months, the agenda will be handed over to the Ministry of SMEs and Startups.

The used car sales business was designated as a livelihood-suitable industry until May of last year, the deadline for review. However, for over a year, the decision on whether to restrict the market entry of major automakers such as Hyundai Motor has not been made.

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