Young individuals aged 19 to 34 purchasing their first EV will now receive a 20% additional subsidy on top of the base national subsidy. (Image courtesy of Yonhap)
SEOUL, Jan. 2 (Korea Bizwire) – South Korea’s Ministry of Environment announced on January 1 a series of policy changes for 2025, including enhanced subsidies for young buyers of electric vehicles (EVs) and expanded environmental initiatives.
Young individuals aged 19 to 34 purchasing their first EV will now receive a 20% additional subsidy on top of the base national subsidy. This builds on a 2024 policy that provided a 30% bonus subsidy for lower-income youth within the same age range.
Families with multiple children will also benefit from revised EV subsidies. Additional amounts of 1 million won for two children, 2 million won for three children, and 3 million won for four or more children will be granted. This replaces the previous proportional system, which offered a 10% bonus.
In addition to EV-related policies, other initiatives aim to promote environmental sustainability:
- Carbon Neutrality Points: Starting in February, users of public bike-sharing systems or participants in food waste reduction efforts will earn points redeemable as cash equivalents. The incentive for receiving food deliveries in reusable containers will double to 2,000 won per order.
- Environmental Dispute Resolution: A streamlined “one-stop service” will centralize health damage investigations, dispute mediation, and compensation under the Environmental Dispute Adjustment and Compensation Committee.
- Chemical Substance Regulations: From August, stricter controls will apply to chemical substances. Substances with annual production or import volumes of 1 ton or more must be registered under new regulations—a tenfold increase from previous thresholds. For smaller volumes, the government will oversee the validity of submitted data and make substance information publicly accessible.
Additional measures include the launch of a hygiene certification system for water treatment plants, a biogas production target program for public organic waste resources, and updated inspection cycles for chemical handling facilities based on risk levels.
These initiatives underscore South Korea’s commitment to fostering a greener, more sustainable future while addressing regulatory gaps and incentivizing eco-friendly practices.
M. H. Lee (mhlee@koreabizwire.com)
