Slowing economy, opportunity for S.Korean used car sellers

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The story "Slowing economy, opportunity for S.Korean used car sellers" was covered 4 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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Slowing economy, opportunity for S.Korean used car sellers - Korea Economic Daily

Quick Summary:

South Korea’s used car sellers aim to take advantage of the slowing economic growth at home and abroad to expand their market shares.Lotte Rental Co., the leading domestic car rental firm, established its first overseas secondhand vehicle selling unit in the United Arab Emirates (UAE) to ramp up exports while planning to launch a business-to-customer (B2C) pre-owned car platform in October, according to industry sources in Seoul on Sunday.K Car Co., South Korea’s top used car retailer, is set to open its third auction house for secondhand vehicles in the second half.

Lotte Rental aims to expand its markets not only in the Middle East but also in North Africa and the Commonwealth of Independent States (CIS), a regional intergovernmental organization in Eurasia formed following the dissolution of the Soviet Union in 1991, through the UAE unit.

LOTTE AUTO GLOBALLotte Rental has been shipping used cars to overseas markets since the company founded a secondhand vehicle brand Lotte Auto Global in 2019.