Central Asia emerging as South Korea’s new used car export market

South Korea’s export volume of secondhand vehicles to Central Asia is increasing for an unexpected reason: Russia.According to the Korea Inter...

Used goods platform Gugus shines in slowing luxury market

Gugus, South Korea’s largest online retailer of secondhand luxury goods, posted double-digit growth in revenue and transactions in the first q...

Hyundai Motor to expand into secondhand EV market

Hyundai Motor Co. will expand its certified secondhand car business into electric vehicles (EVs) to increase the range of used vehicles it deals wit...

BC Card to develop NFT as used luxury item receipt

South Korea’s BC Card on Sunday said it has applied for two domestic patents for payment receipt-based non-fungible token (NFT) technology to ...

Secondhand LNG carrier prices hit record high; prospects rosy

Prices of secondhand liquefied natural gas (LNG) carriers are flying high, close to new LNG ship prices, amid tighter environmental regulations and ...

Lotte Rental drops plan to enter Korea’s secondhand car sales market

Lotte Rental Co., South Korea’s largest car rental firm, has dropped its plan to enter the domestic used car sales market. Instead, it will st...

EVs lack luster in S.Korea’s secondhand car market

Electric vehicles suffered sharper price falls in South Korea’s secondhand car market this year, compared with combustion engine and hybrid ca...

Rolex resale prices tumble as the wealthy young tighten belts

The most sought-after luxury items such as Rolex watches and Chanel bags are selling at a much lower premium, or even below their original prices in...

Korea’s secondhand car market cools amid elevated interest rates

South Korea’s secondhand car market is cooling rapidly as both dealers and buyers are reeling from elevated interest rates, which also bode il...

LS Cable to step up ESG efforts by recycling wooden cable drums

LS Cable & System Ltd. is slated to begin recycling wooden cable drums as part of its environmental, social and governance (ESG) management effo...

Hyundai, Lotte to join used car market, seen as boost for small players

South Korea’s top automaker Hyundai Motor Co. and the country’s No. 1 car rental firm Lotte Rental Co. are advancing into the domestic u...

Lotte buys S.Korea’s top secondhand e-commerce platform

South Korea’s retail giant Lotte is expanding its presence in the e-commerce sector with the acquisition of Joonggonara, the country’s l...