Photologue @theuostimes7
The size of the used goods market is growing as consumption trends change due to the economic downturn caused by COVID-19. As the used goods market becomes more active, trading methods are also diversifying. Most of the transactions involved sending goods by courier or meeting sellers and traders to exchange goods and money. However, as more and more people are reluctant to meet strangers amid the spread of Omicron, "non-face-to-face direct transactions" are occurring.
However, the number of fraud cases that abuse this also increases rapidly. According to the National Police Agency, the amount of used transactions fraud damage increased from 30.6 billion KRW in 2016 to 89.7 billion KRW in 2020. However, the arrest rate has fallen. The arrest rate for used transactions in 2020 was 76.1 percent, much lower than 90.5 percent in 2016. It shows the seriousness of the problem.
Therefore, three companies, "Dangeun Market," "Bungaejangter" and "Junggonara," will work with the government to prevent secondhand transaction fraud damage. The Ministry of Science and ICT announced on March 18 that the Korea Internet & Security Agency (KISA) and the three companies signed a Memorandum of Understanding (MOU) to prevent transaction disputes between individuals. They plan to improve the system or user interface within the first half of the year to accurately convey essential information about transactions between sellers and buyers when trading on the platform. They will strengthen monitoring of fraudulent activities and provide users with fraudulent accounts and notification services for fraud types registered with the National Police Agency.