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Growth Engine

One certification opens
8 growth orbits

CardeX10's core value isn't the grade itself — it's the recurring revenue the grade triggers across maintenance, capital, insurance, export, brokerage, and data. Explore the public-data revenue scenario and the derivative-business map it sets in motion below.

Figures on this page are an illustrative scenario combining public industry data (Korea's MOLIT vehicle ownership-transfer registrations, PSA's revenue trajectory) with disclosed assumptions. Actual results may vary with real contract and market terms.
Revenue Projection

The bigger the derivative-revenue share, the steeper the curve

₩2.1B
Year 1
₩6.1B
Year 2
₩16.8B
Year 3
₩42.2B
Year 4
₩84.5B
Year 5
Core certification revenue Derivative business revenue

Assumptions

  • Base volume: 3.91M annual vehicle ownership-transfer registrations in Korea (2025, MOLIT)
  • Penetration: ramping from 0.3% in Year 1 to 8% by Year 5
  • Core certification revenue: ~KRW 150,000 average fee per precision diagnosis
  • Derivative revenue: maintenance, capital, insurance, and data partnerships, growing from ~KRW 30,000/vehicle (Y1) to ~KRW 120,000/vehicle (Y5) as the ecosystem matures
By Year 5, derivative revenue reaches 44% of the total. — Just as PSA grew from "grading cards" into a massive trading and guarantee ecosystem, CardeX10 aims for derivative businesses to outweigh core certification revenue over time.
Derivative Business Map

Click each orbit to explore the opportunity

Trust and data originating at the certification core radiate outward into 7 derivative business orbits.

CardeX10
Cert Core
10-point precision diagnosis

Maintenance & Parts Network

A grade-drop alert becomes a service-bay visit

  • Auto-refers vehicles with declining grades to partner shops, earning a per-referral fee
  • Revenue share with parts distributors on genuine-part replacements
  • Post-repair re-diagnosis certifies grade recovery, driving repeat visits

Capital & Financing Partners

The grade becomes the basis for risk pricing

  • Preferential rates for high-grade vehicles, with revenue share on the spread
  • Licenses a grade-based residual-value model to lessors
  • Predicts return-time grades, reducing capital partners' loss risk

Insurance Partners

Transparent vehicle health means fairer premiums

  • Co-designs grade-tiered premiums, earning a per-signup fee
  • Links accident and parts-replacement history to curb insurance fraud
  • Renewal discounts for high-grade vehicles lift partner sign-ups

Export Partners

Trust infrastructure for remote export deals

  • Matches certified vehicles to overseas buyers, earning a success fee
  • Sells a premium pre-export diagnosis package
  • "Grade 8+ guaranteed" listings share in the resulting price premium

Transaction Brokerage

Directly connects remote deals for "for-sale" certified cars

  • Earns a success fee when a certified-vehicle match closes
  • The grade report doubles as a trust contract for dispute-free remote deals
  • Sells priority listing placement to dealers and platforms

Data & API Licensing

Accumulated grade data becomes a product of its own

  • Usage-based API access to grade/history data for capital and insurance partners
  • Sells real-time price-to-grade correlation data to used-car platforms
  • Publishes industry benchmark reports under license

Recurring Re-certification

The habit of protecting a grade creates recurring revenue

  • Annual re-diagnosis subscription plans
  • Premium app subscription for grade-change alerts and tracking
  • Pre-return inspection packages for lease and rental fleets

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Want to know more?

Start the conversation on derivative partnerships

Specific terms for capital, insurance, maintenance, and export partnerships are discussed in detail through an IR inquiry.