"8 Years of Partnership Ends on a High Note"... Hahn & Company Grants Encouragement Fund to K Car Employees

Sharing the Fruits of Growth with Employees

Employees of K Car, which is poised to be acquired by KG Group, will receive a "new start encouragement fund" from current majority shareholder Hahn & Company.

K Car held a new start encouragement fund presentation ceremony with Hahn & Company on the 30th. This event was arranged as Hahn & Company decided to provide the fund to employees following the completion of the transaction.

K Car held a new start encouragement bonus ceremony with Han & Company on the 30th. Sungjoo Kim, Vice President of Han & Company (left), Joohwan Kim, Chairman of the Metal Workers' Union K Car Branch (center), and In-guk Jung, President of K Car (right) are taking a commemorative photo together. K Car

Over the past eight years, K Car has grown into South Korea's leading directly managed certified used car platform by strengthening its online competitiveness, expanding its business portfolio, and enhancing operational efficiency. In 2021, it became the first used car platform in the country to be listed on the Korea Exchange, establishing itself as a company with annual sales of approximately 2 trillion won. During this process, Hahn & Company’s ongoing investment and support were instrumental.

The number of employees at the time of Hahn & Company's acquisition was about 700, but it has since expanded to over 1,100. The company has continuously improved its employee compensation and welfare programs, invested in creating a safe and professional work environment, and fostered a corporate culture of sharing results with its members. Notably, last year, K Car executives donated part of their stock options to the employee stock ownership association free of charge.

Inguk Jung, President of K Car, said, "The past eight years with Hahn & Company have been a meaningful period that strengthened the foundation of our company and created a sustainable growth base together with our employees. Building on the competitiveness and customer trust we have accumulated so far, we will continue to pursue sustainable growth as South Korea’s leading automotive platform together with our new majority shareholder."

Juhwan Kim, Chairman of the Metalworkers' Union K Car Branch, said, "Since the acquisition, Hahn & Company has expanded branch operations, consistently contributed to youth employment, and, through collective bargaining, has brought significant improvements to wages, welfare, and overall union member treatment, fostering a cooperative labor-management culture."

This content was produced with the assistance of AI translation services.