Press Release

SK Rent-a-Car (CEO: Shin Jungho, Park Sangwuk) announced on July 1st that its used car auction platform 'SK Rent-a-Car Auto Auction,' operating in Cheonan, South Chungcheong Province, has established itself as a top-3 auction house by transaction volume in Korea's used car auction market, marking its first anniversary.

Launched in July of last year, SK Rent-a-Car Auto Auction is Korea's first one-stop used car auction platform that covers everything from auction and performance inspection to maintenance and vehicle reconditioning — all under one roof. Over the course of its first year, the company has built a stable growth foundation, securing over 34,000 cumulative vehicle listings, 50 regular auction sessions, and 1,250 member dealerships.

Notably, within just one year of opening, SK Rent-a-Car Auto Auction recorded a 9% share of total listings and a 10.5% share of successful bids in Korea's used car auction market. This means that 1 in every 10 vehicles transacted in the domestic auction market is being sold through SK Rent-a-Car Auto Auction — a remarkable achievement for a newly launched auction venue.

■ KRW 372.4 Billion in Transactions Over One Year, Successful Bid Rate Surpasses Industry Average

SK Rent-a-Car Auto Auction processed approximately KRW 372.4 billion in successful bid transactions over the past year. The cumulative successful bid rate reached 66.7%, surpassing the domestic auction industry average of 57.2% for the same period by more than 9 percentage points.

The listing composition, which initially centered on returned vehicles from SK Rent-a-Car's long-term rental fleet, is also gradually diversifying. The company has established a dedicated purchasing team to expand externally sourced and consigned vehicles, securing a wider range of vehicle types and price points.

■ Tangible Regional Co-Prosperity Results — 163 Member Dealerships in South Chungcheong Province

SK Rent-a-Car established the auction venue in Cheonan in order to extend the used car distribution infrastructure — previously concentrated in the Seoul metropolitan area — to regional markets, and signed a co-prosperity agreement with the South Chungcheong Province Automobile Dealers Association last year.

Within one year of signing the agreement, the company secured 163 member dealerships in South Chungcheong Province. Approximately 7% of all successful bids — totaling 1,492 transactions — were made by local dealers in the region. In addition, 67 new consigned listings have been generated, establishing the platform as a new trading venue for the regional automobile dealer community.

■ Strengthening Trust Through Korea's Largest Auction Infrastructure

SK Rent-a-Car Auto Auction holds the largest site area among domestic used car auction venues, with a total floor area of approximately 89,000 m² (approximately 27,000 pyeong) and parking capacity for 3,500 vehicles.

In addition, the advanced service center 'PROOV Station,' directly operated by SK Rent-a-Car, uses an AI-based exterior analysis system and — uniquely among domestic auction venues — an undercarriage scanning system to conduct precise vehicle condition assessments. The company also operates a 221-item inspection system in which external expert institutions participate, enhancing vehicle information transparency and transaction reliability. Through this system, the company processes performance inspections for approximately 4,500 vehicles per month and EV battery State of Health (SOH) certifications for approximately 500 vehicles per week.

Furthermore, the company operates live broadcasts through its 'Inspection Studio,' allowing bidders to check vehicle conditions in real time and participate in auctions with ease — without visiting the venue in person.

■ Expanding to 2,500 Member Dealerships — Targeting Korea's Leading Used Car Distribution Platform

SK Rent-a-Car plans to expand its member dealership network to 2,500 by 2030 and increase the share of export-specialized members to 40%. The company will also continue to strengthen its transaction volume and competitive bidding capabilities by expanding externally sourced and consigned vehicles, and by establishing a data-driven price optimization framework.

An SK Rent-a-Car spokesperson said, "We were able to achieve meaningful results in just one year, backed by the trust of the market," adding, "We will continue to diversify our vehicle inventory, advance our infrastructure, and expand collaboration with regional industry partners as we grow into Korea's leading used car distribution platform."