Hyundai Motor Enters Used Car Trading Complex? ... Violation of Small Business Owners' Right to Survival

Used Car Industry Issues Urgent Statement on the 14th
Condemns Hyundai AutoHub's Attempt to Move In
"Must Withdraw Plan to Enter Local Markets"

Banners and appeals opposing Hyundai's entry are displayed at the used car sales complex in Auto Hub, Yongin, Gyeonggi Province. [Provided by Gyeonggi-do Automobile Sales Business Association]

The used car industry condemned Hyundai Motor Company's entry into local markets and announced that it will strongly respond using all available means.

The Korea Automobile Dealers Association Federation (President Lim Young-bin), a used car organization, issued an urgent statement on the 14th demanding that Hyundai withdraw its plan to enter local markets.

Starting in May, large corporations will be allowed to enter the used car market, and Hyundai is attempting to move into the AutoHub used car complex located in Yongin, Gyeonggi Province. The AutoHub used car complex has been operating since its opening in September 2017, with 70 dealerships currently in business.

The federation argued that Hyundai's plan to enter an existing used car complex rather than opening a standalone store constitutes an "infringement on the survival rights of small business owners."

In the statement, they appealed, "We urge the Fair Trade Commission, relevant government departments, and the National Assembly to deeply recognize the problems of Hyundai Motor Company's unfair business practices that attempt to dominate the used car market by exploiting its superior position as a large corporation and to resolve these issues."

They also stated, "If Hyundai does not withdraw from entering the AutoHub used car complex, we plan to strongly respond using all available means."

A federation official said, "While Hyundai's entry into the used car retail market was anticipated, we feel humiliated by their unscrupulous and unethical act of signing contracts and attempting to move into existing used car complexes where the market is already established."

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