K Car, Han & Company hold bonus ceremony ahead of ownership change

K Car announced Thursday that it held a "fresh start bonus ceremony" with Han & Company ahead of an upcoming change in its largest shareholder.

The ceremony followed Han & Company's decision to pay bonuses to all employees upon the closing of the transaction. The bonuses will be disbursed after the deal closes.

K Car said that since Han & Company acquired the company in 2018, it has grown into South Korea's leading directly operated certified used-car platform by strengthening its online competitiveness, expanding its business portfolio and improving operational efficiency. In 2021, it became the first used-car platform in the country to list on the Kospi, and has since grown into a company with annual sales of 2 trillion won ($1.36 billion).

The number of employees, which stood in the 700s at the time of the Han & Company acquisition, has grown to more than 1,100. The company also continuously improved its compensation and benefits systems and invested in creating a safe and professional work environment. Notably, K Car executives donated some of their stock options to the employee stock ownership association last year at no cost. Han & Company then arranged the fresh start bonuses to express gratitude and encouragement to staff.

K Car said the latest ownership change goes beyond a simple transfer of control and reflects a commitment to the company's sustainable growth. KG Group plans to acquire K Car as part of a broader effort to build an integrated mobility ecosystem spanning automotive manufacturing, retail and IT platforms.

"The eight years we spent with Han & Company were a meaningful period in which we strengthened the company's fundamentals and built a sustainable growth foundation together with our employees," K Car President Jung In-kook said. "With our new largest shareholder, we will continue to grow as South Korea's leading automotive platform, building on the competitiveness and customer trust we have accumulated."

Kim Ju-hwan, chapter head of the Korean Metal Workers' Union K Car branch, said Han & Company had consistently contributed to youth employment by expanding branch locations since the acquisition, and had raised wages and improved benefits through labor-management negotiations, fostering a culture of mutual cooperation.

Kim also said the sale gave K Car the opportunity to connect with a new largest shareholder that would help expand the business, calling it a chance for the company to grow even further.

Meanwhile, K Car was recently ranked No. 1 in the used-car platform category for the second consecutive year in the 2026 National Customer Satisfaction Index survey conducted by the Korea Productivity Center.