[Featured Stock] K Car Rises Early as Entry into Large Corporate Used Car Market Delayed

[Asia Economy Reporter Lee Myunghwan] K Car is showing strong performance from the early trading session on the 29th. This is attributed to the Small and Medium Business Administration's decision the previous day to grant a one-year grace period for large companies such as Hyundai and Kia to enter the used car market.

As of 9:15 a.m. today, K Car is trading at 29,450 KRW, up 6.13% (1,700 KRW) from the previous trading day.

The Small and Medium Business Administration held a Small Business Business Adjustment Committee meeting the previous day and recommended that Hyundai and Kia delay their entry into the used car market by one year to May next year, later than originally planned. However, from January to April next year, they are allowed to conduct pilot sales of certified used cars within a limit of 5,000 units each. Additionally, the number of used cars sold will be restricted for two years after market entry.

In response, Hyundai and Kia issued a statement on the same day regarding the Small and Medium Business Administration's adjustment results, saying, "Considering consumers who earnestly desire changes in the used car market, this is a somewhat disappointing outcome."

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