[Asia Economy Reporter Choi Dae-yeol] Jung In-guk, CEO and Executive Officer of K Car, a direct used car platform company, announced on the 12th that he purchased 10,000 shares of the company's stock. The purchase price was 25,210 KRW per share, totaling 252.1 million KRW.
The company stated, "This is a promise to practice transparent and responsible management and to strengthen trust with shareholders," adding, "It shows the determination to make greater efforts to increase the company's future corporate value."
This year, the company recorded sales of 557.5 billion KRW in the first quarter, continuing an 11-quarter consecutive upward trend. However, operating profit decreased by 24% compared to the previous year, amounting to 13 billion KRW. With a direct purchase and sales system, the company operates the largest nationwide network of 47 branches in Korea. According to the company, its market share in the online used car market is about 81%.
The company said, "We will increase IT investments such as AI curation services and improvements in consumer-friendly platform usability, and expand offline bases," adding, "We will also lead the used electric vehicle market through activities such as diagnostic collaboration with battery manufacturers."
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