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Korean economy’s ‘triple whammy’ and innovation in the used car export market, attention to PROGROUP!

The Korean economy is experiencing a ‘triple hardship’ including declining growth potential, income and wealth inequality, high inflation, and financial instability. In response, experts say that strong leadership along with comprehensive reforms in human resources, technology, institutions, and policies are needed to overcome these complex economic problems.


The role of the leader and the company’s response strategy

Experts say that in order for companies to take advantage of changes in the external environment and industrial reorganization, leaders must be equipped with the knowledge and skills necessary for the future and the wisdom for a happy life. Companies must focus on securing core technologies and human resources, actively respond to changes in the global trade environment, diversify export markets, and expand supply chains. This strategy is expected to ultimately contribute to strengthening the industry's competitiveness and establishing its position in the changing global market.


PROGROUP leads innovation in the Korean export market, including used car export, storage, transportation, forwarding, and cluster leasing

In this situation, the actions of Jong-don Yoon, CEO of Profact Co., Ltd./Procarvis Co., Ltd., who is leading innovation in the used car export market, are attracting attention. PROGROUP CEO Jong-don Yoon discovered the potential of the domestic used car export market early on and established a used car export complex by setting up a 100,000 pyeong logistics center in Songdo, Incheon. This has laid the foundation for used car exporters to stably enter overseas markets.

CEO Yoon said, “Currently, the annual transaction volume of used cars in Korea amounts to 30 trillion won, and transactions between companies and consumers alone amount to 2.5 million units per year. However, he pointed out that the export used car sector is still in a ‘blind spot of growth’ and explained, “Despite being an export industry in name and substance, the market size is only 1 to 2 trillion won.”

In order to improve the poor environment of the used car export market, PROGROUP is building various export complexes and introducing a modernized logistics system to support exporters' smooth exports. PROGROUP is expanding its used car export and management business through Profect Co., Ltd. and is striving to pioneer the global market by efficiently operating domestic and overseas automobile logistics through Procarvis Co., Ltd. Through these efforts, CEO Yoon was awarded the ‘Innovative Leader Leading Korea’, the ‘Korea Leader Award in the Logistics/Used Car Category’, and the ‘Incheon Trucking and Transport Business Association Achievement Award’.


Korean Presentative Export Cluster

Profact Co., Ltd. currently manages and supervises over 600 used car-related exporters through Korea's largest export cluster, and is continuing its efforts to increase the growth potential of the used car export market. He advocated opening an online used car export auction house to solve problems arising from a lack of institutional support in the used car export market, and also showed insight into Hyundai Glovis' digitalized auction system.

Recently, he founded Provision Co., Ltd., a developer, and began research to build an automobile cluster and theme park. He also plans to launch an online used car export platform ‘Prowingcar’ to open a new way to sell directly to not only domestic buyers but also overseas buyers.

CEO Yoon said, “Through the online used car export platform, we can transact directly with local buyers beyond domestic buyers. Through this, we will be able to create various added values ​​and solve institutional problems.” He revealed his future plans, saying, “Through the completion of the used car export cluster, we will set a new milestone in Korea’s used car exports.”

Through PROGROUP's solid export system and platform operation and CEO Yoon Jong-don's innovative leadership, it is expected to play an important role in accelerating the growth of the Korean used car export market and creating a new growth engine for the Korean economy in the future.