K-Car: Current Largest Shareholder Hahn & Company Gives Bonuses to Staff Ahead of Management Change

K Car has announced that, ahead of the change in its largest shareholder, it held a 'New Start Encouragement Payment Ceremony' together with Hahn & Company ("Hahn & Co.") on the 30th. This ceremony was arranged following Hahn & Company's decision to pay encouragement bonuses to employees after the transaction closes, and serves as an occasion to express gratitude to employees who have contributed to the company's growth and value enhancement, as well as to cheer them on for a fresh start. The bonuses are scheduled to be paid following the completion of the transaction.

Over the past eight years, K Car has grown into Korea's leading direct-operated certified pre-owned car platform through strengthening its 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 exchange, and has since continued its steady growth, establishing itself as a company with annual revenue of around KRW 2 trillion. Throughout this growth journey, Hahn & Co., as the largest shareholder, provided continuous investment and support.

Alongside the company's growth, investment in its people has also continued. The number of employees, which stood at around 700 when Hahn & Company acquired the company, has now expanded to over 1,100, contributing to the creation of quality jobs. In addition, the company has continuously improved its employee compensation structure and welfare benefits, invested in creating a safe and professional working environment, and fostered a corporate culture of sharing achievements with its members. In particular, last year, K Car executives donated a portion of their stock options to the employee stock ownership association, sharing the fruits of growth with employees, and this time, Hahn & Company has prepared the new start encouragement payments to convey its gratitude and support to 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 laid the groundwork for sustainable growth together with our employees." He added, "Together with our new largest shareholder, we will continue our steady growth as Korea's leading automotive platform, building on the competitiveness and customer trust we have accumulated so far."