SEOUL, Dec. 12 (Korea Bizwire) – The Ministry of Environment announced Sunday that it plans to support 14,000 new EV purchases in 2017 to push up the number of eco-friendly vehicles on the road.
The government subsidy for purchasing a new EV in 2017 was set at 14 million won ($11,936) per vehicle, which is the same as the amount provided this year.
However, an additional 5 million won on average can be obtained from local governments, on top of up to 4 million won in tax savings, including a maximum 2 million won in special consumption tax, 600,000 won in education tax, and 1.4 million in acquisition tax.
The ministry added that more EV charging devices will be installed across the country, increasing the number of fast-chargers to 530 from the current 330, mainly centered around the Seoul metropolitan area and larger cities.
Multi-charger stations, where five vehicles can charge at once, and at twice the speed of conventional fast-chargers, will also increase in number.
“The number of EVs and EV charging facilities will improve next year to the same level as other developed countries,” said a ministry official. “With the introduction of EV models with better mileage, and added benefits for EVs such as highway toll exemptions, we believe we’ll successfully meet our goal in terms of EV supply (14,000 in 2017).”
The number of EVs sold in 2016 (until December 8) was 4,622, an increase of 64 percent compared to last year (2,821). There were a total of 5,767 EVs in the country in 2015.
By Kevin Lee (email@example.com)