An electric car is being charged at a power station in central Seoul on Aug. 2, 2019. (Yonhap)
SEOUL, Nov. 8 (Korea Bizwire) — Starting from next year, more than 2,000 private companies affiliated with South Korean conglomerates will be obliged to fill a certain portion of their car purchases with environment-friendly models.
The government confirmed a legislation draft to set the annual eco-friendly purchase target for the nation’s 2,616 companies with more than 5 trillion won assets each that are designated by the Korea Fair Trade Commission as subject to public disclosures.
The legislation draft will take effect from Jan. 28, 2022 after going through the process of advance legislation notice.
Under this legislation, when companies purchase new business-purpose cars, at least 22 percent must be eco-friendly cars including electric vehicles (EVs) and hydrogen fuel cell cars (13 percent).
In other words, if a company buys 100 new vehicles, at least 13 of the 22 eco-friendly vehicles should be EVs or hydrogen cars, and the remaining nine can be selected among electric, hydrogen and hybrid cars.
Taxi companies with more than 200 vehicles will be required to fill 7 percent of their new purchases with EVs or hydrogen fuel cell cars.
Similarly, 26 bus companies with more than 200 buses will be mandated to fill 6 percent of their new purchases with electric or hydrogen cars.
When it comes to truck companies, they should fill 20 percent of their 1-ton truck purchases with eco-friendly models.
Kevin Lee (kevinlee@koreabizwire.com)
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