"Used Goods Trading Blue Instead of Carrot"... Hyundai Oilbank Launches Used Market Utilizing Gas Stations

Launch of Used Goods Trading Platform 'Blue Market'

[Asia Economy Reporter Hwang Yoon-joo] Hyundai Oilbank has launched a platform where used goods can be traded at gas stations.

Hyundai Oilbank announced on the 5th that it has launched the used goods market platform "Blue Market" within the Bonus Card app "BLUE."

Blue Market is a service that allows Bonus Card members to safely trade used goods at 352 directly operated gas stations nationwide without any separate authentication or procedures. To celebrate the launch of Blue Market, Oilbank is also conducting the "Eco King Challenge" event, offering prizes to members who register or trade many used items.

The competitive advantages Hyundai Oilbank’s "Blue Market" emphasizes are "safety" and "accessibility." Gas stations located at key transportation hubs make it easy to decide on a trading location, and the presence of CCTV and managers on site allows for worry-free transactions. In particular, with parking spaces available, direct transactions of large items using vehicles are much more convenient. In fact, users had previously been reluctant to trade in secluded or late-night locations and found it difficult to thoroughly inspect items, but this service solves those issues at once.

Recently, the used goods trading market has shown a rapid growth trend, estimated at over 20 trillion won (industry estimate). Platforms reflecting the tastes of the MZ generation to middle-aged and older adults, such as limited-edition sneakers, used cars, and resale of high-priced items, are increasing. However, as the market grows, cases of fraud and false listings have also increased, making safe used goods trading a barrier that still needs to be overcome. The industry recommends using safe trading sites, but there are practical limitations as sellers prefer simpler transaction methods.

Kwon Tae-hyung, head of Hyundai Oilbank’s marketing team, said, "We will expand the usage locations of 'Blue Market' to self-operated gas stations to increase accessibility and consider various attempts such as linking payment and discount benefits with bonus points."

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