Operating profit of small enterprises in the used car market South Korea 2013-2017
In 2017, the operating profit for small businesses in the used car market in South Korea was a little over three million South Korean won. According to the source, the share of operating profit has drastically decreased from 3.77 percent in 2013 to 0.36 percent in 2017. In 2013, the used car market was designated as a "SME suited sector" by the South Korean government, which blocked larger corporations from entering or expanding in the market. This led to many small enterprises entering the market and increased competition among businesses.