Fluba Market Surpasses 10,000 Members

Agtech startup GINT announced that its used agricultural machinery trading platform, 'FLUVAR Market,' has achieved 10,000 cumulative subscribers. As of December, the number of subscribers stands at 12,000, an accomplishment made in approximately two years since the service launched in 2023. This is regarded as an exceptional growth rate for an online platform in the agricultural sector, where most of the population is elderly, aged 60 or older. FLUVAR Market has established a differentiated buying and selling process in the used agricultural machinery market, which suffers from severe information asymmetry. It provides vehicle performance inspection, re-merchandising and quality certification, financial product support to alleviate the burden of purchase costs, and autonomous driving module installation. The platform has partnered with over 30 agricultural machinery dealerships nationwide to select vehicles in good condition and also supports after-sales service post-delivery. It has established its position in the premium agricultural machinery market. Large tractors priced over 100 million won account for 59% of the total transaction volume. GINT plans to expand FLUVAR Market into an advanced agricultural machinery distribution hub. It will distribute automated agricultural machinery and agricultural robots slated for release this year, including 'FLUVAR Auto,' an autonomous driving module for agricultural machinery, through FLUVAR Market, and link them with offline experience spaces. Consultations for equipment introduction, experiences, and purchases are available at 'FLUVAR Way,' an advanced agricultural machinery showroom established on a 5,000-pyeong (approx. 16,500 square meters) site in Hampyeong, Jeollanam-do. CEO Kim Yong-hyun stated, "The agricultural crisis caused by an aging population can only be solved by adopting advanced technology. In addition to research and development for agricultural innovation, we will continue to pay attention to services that can improve technological accessibility for farmers." Established in 2015, GINT is developing agricultural innovation technologies such as autonomous driving, AI, tractor electrification, and robotics. Its cumulative investment amounts to approximately 50 billion won, and it secured 14.5 billion won in pre-IPO investment last December.