K Car, Ahead of Management Change, Current Largest Shareholder Hahn & Company Delivers Incentive Payments to Employees
K Car announced on the 30th that it held a “New Beginning Encouragement Award Ceremony” together with Hahn & Company (“Hahn & Co.”) ahead of the change in its largest shareholder. The ceremony was organized following Hahn & Company’s decision to provide encouragement awards to executives and employees after the transaction closes, serving as an occasion to express gratitude to the executives and employees who contributed to the company’s growth and value enhancement, and to cheer them on for a new start. The encouragement awards will be paid after the transaction is completed.
Over the past eight years, K Car has grown into Korea’s leading direct-operated certified used car platform through strengthening online competitiveness, expanding its business portfolio, and improving operational efficiency. In 2021, it became the first domestic used car platform to be listed on the KOSPI stock market, and has continued its steady growth since then, establishing itself as a company with annual revenue of approximately 2 trillion KRW. Throughout this growth journey, Hahn & Co., the former largest shareholder, provided continuous investment and support.
Alongside the company’s growth, investment in people has also continued. The number of executives and employees, which stood at around 700 at the time of Hahn & Company’s acquisition, has now expanded to over 1,100, contributing to the creation of quality jobs. In addition, the company has continuously improved its employee compensation system and welfare benefits, continued investments to create a safe and professional working environment, and built a corporate culture that shares achievements with its members. In particular, K Car executives donated a portion of their stock options to the employee stock ownership association last year to share the fruits of growth with employees, and this time, Hahn & Company prepared the new beginning encouragement awards to convey its gratitude and support to the executives and employees.
Jung In-kook, CEO of K Car, stated, “The past eight years with Hahn & Company have been a meaningful time in which we strengthened the company’s fundamentals and established a foundation for sustainable growth together with our executives and employees,” adding, “Together with our new largest shareholder, we will continue our steady growth as Korea’s leading automotive platform based on the competitiveness and customer trust we have accumulated so far.”
