Hahn & Co. said Wednesday it has agreed to sell used-car platform K Car and its financing unit to a consortium led by KG Group for 750 billion won ($498 million).
Under the deal, Hahn & Co. will transfer a 72.19 percent controlling stake in K Car and a 100 percent stake in K Car Capital. The transaction values K Car at 980 billion won and K Car Capital at 200 billion won.
KG Group described the acquisition as a “strategic turning point” as it seeks to build an integrated mobility ecosystem spanning vehicle manufacturing, distribution and IT platforms. The deal will be carried out through a co-investment structure with Seoul-based Cactus Private Equity.
K Car is Korea’s largest used-car retailer, holding a 12.7 percent share of the overall market and more than 50 percent of the online segment, according to Hahn & Co.
The sale marks an exit for Hahn & Co., which acquired SK Encar’s offline used-car business in 2018 for 220 billion won and rebranded it as K Car later that year. The company was listed on the Kospi in 2021, allowing the firm to recover its initial investment.
Under Hahn & Co.’s ownership, K Car has posted strong growth, with revenue rising to 2.44 trillion won and EBITDA to 125 billion won in 2025, up from 990 billion won and 13 billion won, respectively, in 2018.
By Im Eun-byel (silverstar@heraldcorp.com)
