Free flood-history checks for used cars available on Car365: "Just enter the vehicle number"

[Financial News] The Korea Transportation Safety Authority (TS) said on the 31st that it will provide a free flood-information lookup service through Car365 to prevent the illegal circulation of flood-damaged used cars and protect consumers from harm. Users can check not only floods that occurred this year, but also past maintenance, inspection, and insurance claim records.
The information provided covers five categories, including maintenance records from auto repair businesses, inspection records from used-car performance and condition inspectors, total-loss and partial-loss claim information from the Korea Insurance Development Institute, and flood information independently identified by local governments.
The service was introduced to prevent cases in which flood damage is concealed and a used car is sold, or buyers pay more than the market price. TS explained that a pre-purchase check is necessary in case flood-damaged cars from recent heavy rain and typhoons enter the used-car market.
Cars that have been declared total losses due to flooding must be scrapped. The Ministry of Land, Infrastructure and Transport (MOLIT) revised the Motor Vehicle Management Act in April 2021 to restrict the resale of such vehicles.
The maximum fine for failing to scrap a flood-damaged total-loss vehicle was raised from 3 million won to 10 million won on Aug. 14, 2024.
Responsibility for performance and condition inspections will also be strengthened. Under the used-car consumer protection measures announced by MOLIT on Aug. 6, the ministry plans to introduce a system that imposes fines or suspends business operations if major items such as flood history are improperly inspected. 
"Checking flood information on used cars is an essential step to prevent public harm caused by illegal circulation," said Yong-Sik Jung, head of TS. "We ask for active use of the Car365 service."

[email protected] Choi Ga-young Reporter