In response to Hyundai and Kia’s entry into the used car market, the government recommended starting the business in May next year to prepare small and medium-sized companies to strengthen their competitiveness.
The Ministry of SMEs and Startups announced yesterday (28th) that they held a small and medium-sized business adjustment committee and decided on such a recommendation.
However, from January to April of next year, the two companies will be allowed to sell certified used cars up to 5,000 units each, and for two years following the start of the business, the two companies will limit their used car sales to a maximum of 7%.
The government plans to gradually increase the sales volume of certified used cars in the future.
#Used Cars #Small and Medium Venture Business Department
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