SEOUL, Feb. 17 (Korea Bizwire) — An increasing number of municipal governments are launching subsidy programs to promote the purchase of electric bicycles.
The city of Chuncheon in Gangwon Province announced on Thursday that it will provide a subsidy of up to 50 percent of the purchase cost to those who buy pedal-assist electric bicycles at the city’s bicycle shops.
The bicycles should be human-powered, while those powered exclusively by electric motors do not qualify for the subsidy.
The city of Gwacheon in Gyeonggi Province has been carrying out a subsidy program since 2021 in which citizens over 19 years of age can receive a subsidy of up to 30 percent of the purchase cost of an electric bicycle.
The amount of subsidy is limited to 300,000 won (US$23.17) per person.
Starting this year, Gwacheon expanded the scope of recipients towards citizens who reside and have a registered address within the city for 30 days before the date of notification.
Until last year, the city government offered subsidies for electric bicycle purchases only to citizens who had been living in the city for more than two years.
Image Credit: Gangneung City Office / Gongju City Office / photonews@koreabizwire.com
