Illegal VIP Parking Pass Transactions... Department Stores Are Embarrassed Despite Knowing

Transactions up to around 1 million won
Disqualification notice upon detection
Strict verification practically impossible

[Asia Economy Reporter Lim Chun-han] VIP parking permits, provided to customers who spend tens of millions of won annually at department stores, are being illegally traded online for as much as around 1 million won. Although the department store industry is aware of this fact, they are struggling as it is practically impossible to manage.

On the 24th, there were 264 posts about department store VIP parking permit transactions on Junggonara in the past week alone. These benefits are given to customers who spend tens of millions of won annually at department stores, but since there is no separate verification process once the parking sticker is attached, illegal trading is rampant. Demand is especially high among office workers near department stores in urban areas struggling with parking shortages. This is because purchasing a department store VIP parking permit is much cheaper than using nearby parking lots, which typically cost more than 200,000 won per month. As demand for VIP parking permits increases, sellers sometimes require a deposit of 50,000 to 100,000 won before the transaction.

Lotte Department Store issues 3 permits for the highest tier, AvenueL, 2 for Renis and Prestige, and 1 for the others. For the top three tiers, free parking is available during business hours at all stores nationwide, and valet parking is also available. Shinsegae Department Store’s highest tier, Trinity, provided only to the top 999 customers by purchase performance, offers valet parking and all-day free parking during business hours at all stores, while Diamond and Platinum tiers allow free parking for 5 hours. Trinity and Diamond tiers can register 2 vehicles, and Platinum can register 1 vehicle. Hyundai Department Store issues 2 permits for Jasmine Black, and 1 permit each for Jasmine Blue and Jasmine, providing free parking only for vehicles registered with the valet parking service.

The online selling price of parking permits increases according to VIP tier. Each department store offers different benefits such as parking time by tier. Currently, Lotte Department Store’s AvenueL sells for 600,000 to 900,000 won, Renis for 550,000 to 750,000 won, and Prestige for 450,000 to 650,000 won. Shinsegae Department Store’s Trinity is traded for 1,000,000 to 1,200,000 won, and Diamond and Platinum for 500,000 to 600,000 won. Hyundai Department Store’s Jasmine Black is priced between 1,000,000 and 1,300,000 won. The reason Hyundai Department Store’s parking permits trade at higher prices than Lotte and Shinsegae is analyzed to be because its stores are evenly distributed across major locations.

Department stores are strengthening warnings that benefits for premium customers are non-transferable and that qualifications will be revoked if violations are detected. However, they say strict verification procedures that could cause inconvenience to VIP customers on site are practically impossible. An industry insider expressed frustration, saying, "There is no way to control individuals trading parking permits personally," adding, "There are privacy issues, and it’s impossible to verify who posted the listings."