Business Areas
Auto Recycling
This cancellation, under Article 13(7) of the Automobile Registration Act, allows cancellation registration
for vehicles without subsequent enforcement processes like asset liquidation,
if deemed to have no residual value for liquidation according to criteria set by the Presidential Decree.
Article 31(2) of the Automobile Registration Decree "cases recognized as having no residual value for liquidation according to criteria set by the Presidential Decree" include:
01
Passenger cars over 11 years old
02
Buses, trucks, and special vehicles
(compact and small) over 10 years old
03
Buses (medium and large)
over 10 years old
04
Trucks and special vehicles
(medium and large) over 12 years old
