SEOUL, Dec. 2 (Korea Bizwire) – Hybrid vehicle registrations in South Korea are projected to exceed two million by the end of this year, marking a significant milestone 16 years after their introduction to the domestic market in 2008.
The surge in hybrid car adoption is also driving a broader shift toward eco-friendly vehicles, with their share of total registrations reaching double digits for the first time.
According to the Ministry of Land, Infrastructure, and Transport, hybrid registrations totaled 1.93 million as of October 2024, with monthly additions averaging 40,000. This trajectory suggests that the cumulative total will surpass two million by year’s end.
Hybrid adoption has accelerated rapidly, with cumulative registrations hitting 500,000 in 2019, one million in 2022, and 1.5 million in early 2023. This year alone, hybrid registrations are expected to reach a record 458,000. The first domestically produced hybrid, Hyundai’s Avante LPI Hybrid, debuted in 2009.
The rise of hybrid vehicles reflects their role as a transitional technology amid the decarbonization push and challenges in scaling electric vehicle (EV) adoption.
Hybrids now account for the majority of South Korea’s 2.62 million eco-friendly vehicle registrations, which also include 661,000 EVs and 37,000 hydrogen fuel-cell cars. Combined, these vehicles make up 10% of the nation’s total registered vehicles, up from less than 1% in 2015 and 5% in 2022.
Industry experts predict sustained hybrid demand over the next several years, with total eco-friendly vehicle registrations poised to reach three million faster than expected. As the nation navigates the transition to cleaner transportation, hybrids are cementing their position as a pivotal bridge between internal combustion engines and full electrification.
Kevin Lee (kevinlee@koreabizwire.com)