South Korea Tightens Rules on Used Car Ads, Requiring Owner Consent

South Korea is cracking down on fraudulent used car advertisements with new regulations that took effect this month. The Ministry of Land, Infrastructure and Transport revised the Automobile Management Act to require explicit owner consent before any used car can be advertised online. This move aims to tackle the pervasive issue of fake listings, which often lure consumers with unusually low prices for vehicles that are either non-existent or misrepresented. Consumers frequently encounter situations where they are pressured to send deposits or are shown different vehicles upon arrival. These deceptive practices have not only led to financial losses but also wasted consumers' time and damaged the overall trust in the used car market. As online transactions become more prevalent, the potential for exposure to false or exaggerated advertisements has increased significantly. The new law is expected to improve the transparency and reliability of the online used car trading environment.