K Car

Founded in 2000, K Car Co. , Ltd. is a South Korean company focused on the direct sale of used vehicles. The company is led by CEOs John Dumproff and Matthew Bjorgum.

In March 2026, KG Steel and Cactus Private Equity agreed to acquire approximately 72. 19% majority stake in K Car from Hahn & Company for KRW 550 billion, as part of a PIPE deal. As part of the transaction, the company agreed to sell 3. 52 million shares, or KRW 15,605 apiece.

K Car focuses on the direct sale of used vehicles and positions itself as South Korea's leading online used car marketplace. It offers an end-to-end service that allows vehicles to be bought and sold without in-person visits, including online car evaluations, immediate cash offers, and home services such as free vehicle assessments and fast delivery of purchased vehicles. Its selection ranges from economical models to luxury vehicles, serving mainly individual consumers and corporate clients managing fleets across urban and suburban areas of South Korea, where demand for reliable pre-owned vehicles is high. K Car's revenue comes from the direct sale of used vehicles and related services, and in 2025 it reported KRW 2.

44 trillion in revenue. The company streamlines transactions by offering free vehicle appraisals and instant cash offers, making it easier for sellers to complete the process. Its customers include both private individuals and corporate entities, who use K Car to sell vehicles or buy pre-owned cars. Prices are kept competitive, with options across a range of price points based on make, model, and condition, and the company also provides financing solutions tailored to customer needs, improving access to vehicle purchases and strengthening its standing in the automotive market.

Following its recent deal, K Car will utilize the raised capital to enhance its operational capabilities and expand its market presence. The company aims to launch new online features that simplify the car buying process and plans to explore opportunities in international markets to diversify its offerings and customer base.