K5 Hybrid 500h
SEOUL, Sep. 24 (Korea Bizwire) — The Korean government and the ruling Saenuri party laid out a plan on September 23 that they would provide the local drivers who buy low emission vehicles with a handsome US$3,000 subsidy.
The government and the party decided to postpone the implementation of a low carbon vehicle incentive scheme until 2021. Instead, those who purchase low carbon motors will receive tax breaks worth up to 3.1 million won, equivalent to US$2,988, and get an additional one-million-won cash incentive.
The new scheme starts at January 1, 2015, offering benefits to those who buy one of eight automotive models including Sonata, K5 and Prius.
Soul EV
Sonata Hybrid
Image credit: Kia Motors, Hyundai Motors / photonews@koreabizwire.com
