K Car Launches Industry's First Used Car Auction in Chungcheong Region

[Asia Economy Reporter Choi Dae-yeol] K Car, a direct used car platform company, announced on the 26th that it has opened the second auction site of its online used car auction service, 'K Car Auction,' in Sejong City. K Car Auction is an auction service that applies a mixed method of online and offline, departing from the existing offline single auction method.

The K Car Auction Sejong auction site is located near Namcheongju IC in Bugang-myeon, Sejong City. This company is the first in the used car auction industry to have a store in the Chungcheong area. The company explained that this is part of strengthening business competitiveness by improving accessibility for non-metropolitan area purchasing dealers.

Following the Osan auction site, which can exhibit and list about 1,200 vehicles, this is the company's second auction site, and the two locations combined will operate an auction channel with a maximum scale of about 1,800 vehicles per day. The auction site covers a total area of 24,900㎡ and consists of a main building with two floors. There are also a performance inspection center and a photo zone. Auctions are held daily as Daily Auctions and weekly on Tuesdays as Weekly Auctions, and both online non-face-to-face bidding and on-site bidding (with about 70 seats) will be conducted simultaneously.

Jung In-guk, CEO of K Car, said, "Since we introduced the industry's first online used car auction service in 2011, moving away from the offline single auction method, we have secured various distribution channels and increased bid competitiveness based on member companies nationwide," adding, "We will enhance purchasing competitiveness as a used car distribution hub in the central region and expand our auction channels."