"Opposition to Large Corporations Entering the Market"... Used Car Industry Launches Consecutive Collective Actions

Relay Protest Rally in Front of Transition Committee Office
Emergency Press Conference Held at Korea Federation of SMEs on the 29th
"Effectively Allowing Monopoly by Hyundai Motor and Other Complete Vehicle Manufacturers"

The Korea Automobile Dealers Association held a rally on the 24th near the National Palace Museum in Jongno-gu, Seoul, opposing the entry of large corporations into the used car market. Photo by Moon Honam munonam@

The small and medium-sized used car industry is taking collective action to block the entry of large corporations such as Hyundai Motor and Kia into the used car market.

The Korea Automobile Dealers Association Federation (KADA Federation) held a protest rally in front of the Presidential Transition Committee office in Tongin-dong, Seoul, on the 28th, following previous rallies on the 24th and 25th. Due to COVID-19 quarantine regulations, only up to 299 of the approximately 40,000 dealers affiliated with the KADA Federation are attending.

They condemned the Ministry of SMEs and Startups' decision not to designate the used car industry as a livelihood-suitable sector and criticized the entry of large corporations into the used car market as an act that destroys the automobile sales ecosystem. They also mentioned plans to take drastic measures such as returning automobile management business licenses and boycotting Hyundai Glovis used car auctions.

Im Young-bin, president of the KADA Federation, stated, "The Ministry of SMEs and Startups' decision not to designate the livelihood-suitable sector ignores the characteristics of the used car industry and reflects a retrogressive judgment due to a lack of understanding of the automobile sales business," adding, "It amounts to allowing Hyundai Kia's monopoly."

The Korea Automobile Dealers Association held a rally on the 24th near the National Palace Museum in Jongno-gu, Seoul, opposing the entry of large corporations into the used car market. Photo by Mun Ho-nam munonam@

A KADA Federation official said, "It is obvious that large corporations will dominate with capital and superior status rather than coexistence and cooperation," adding, "This news pours cold water on the atmosphere of progress through self-regulation efforts within the industry." They also claimed that most consumer complaints such as false listings are not problems of the used car sales industry but criminal acts by illegal and unregistered fraudsters.

Another used car industry group, the National Automobile Dealers Association Federation, will hold an emergency press conference tomorrow (29th) at the Korea Federation of SMEs in Yeouido, Seoul, opposing the entry of completed car manufacturers into the used car sales business.

Earlier, on the 17th, the Livelihood-Suitable Sector Deliberation Committee reviewed and decided not to designate the used car sales business as a livelihood-suitable sector. The committee judged that the proportion of small business owners in the used car sales industry is low and that it does not meet the criteria for small-scale business size.

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