Changing habits: Pedestrians along a shopping street in Seoul. Thrifty consumers are increasingly turning to secondhand goods or reselling used clothes to recoup costs. — AP
SEOUL: South Korea’s online secondhand market was once a network of consumer-driven trades, loosely overseen by companies offering little more than secure payments and basic fraud checks.
Today, the market is being commercialised with unusual speed, swelling to a projected 43 trillion won this year or about US$30.5bil – nearly double its size in just four years – according to the Korea Internet & Security Agency.
