The Ministry of Land, Infrastructure and Transport said on the 1st that, starting on the 3rd, the Motor Vehicle Management Act and its enforcement decree will take effect requiring consent from the owner to post a used car listed under another person's name for sale on the internet.
If first caught violating the enforcement decree, the person who posted the ad will be fined 100,000 won. A second offense will bring a 300,000 won fine, and a third will increase it to 500,000 won. Operators of used transaction platforms will be fined 5 million won for a first offense, 7.5 million won for a second, and 10 million won for a third.
Until now, there were no penalties for posting listings without the owner's consent. As a result, consumers suffered harm from scams such as inducing advance payments through false listings.
Under the revised law, individuals who are not licensed dealers must obtain prior consent from the vehicle owner to sell a used car or place a sales ad through an internet platform. Used-car platform operators must also indicate in the ad whether prior owner consent has been obtained. The direct-transaction platform Karrot is upgrading its system so that sales ads for used cars under another person's name are posted only after mobile phone identity verification and other steps.
When posting an online used-car sales ad, key information such as the performance/condition inspection record and seller information must also be included. Used-car dealers who violate this will be fined. Information that must be posted under rules by the Ministry of Land, Infrastructure and Transport (MOLIT) includes seven items: ▲ registration number ▲ major specifications and optional equipment ▲ seizure and mortgage information ▲ performance/condition inspection record ▲ presentation/report number ▲ dealer and dealer business association information ▲ employee information ▲ sales type (whether sold directly, etc.).