This article was posted on Nov. 26, 2025, at 3:10 p.m. on the ChosunBiz MoneyMove site.
Hyundai GLOVIS is pursuing the acquisition of AutoPlus, which operates the direct-run used car sales brand "Rebon Car."
On the 26th, investment banking (IB) industry sources said Hyundai GLOVIS is currently conducting due diligence to acquire AutoPlus.
AutoPlus is a used car distribution specialist established in 2000. It operates the direct-run used car brand Rebon Car, which purchases used cars and completes parts replacement, body repair and painting, and quality improvements before selling them.
Unlike most other used car companies that entrust reconditioning to external car centers, it has a large in-house reconditioning factory (ATC).
AutoPlus was acquired in 2017 by private equity firm VIG Partners for 110 billion won. Existing shares were sold for 60 billion won, and an additional 50 billion won of new investment was injected.
VIG Partners attempted to sell AutoPlus once in 2022 but halted the sale after failing to bridge valuation gaps with potential buyers such as Kolon Group. It later selected Samjong KPMG as the lead advisor for the sale in 2023 and has been contacting potential buyers. The sale targets are AutoPlus and its subsidiaries AutoPlus Solution and Best By Car.
A Hyundai GLOVIS official said they could not confirm whether due diligence was under way, and said they are considering various ways to enhance consumer convenience, strengthen market transparency and secure competitiveness in the used car business sector.