SEOUL, Oct. 19 (Korea Bizwire) — The highway toll discount program for electric and hydrogen vehicles and commercial trucks will be extended to 2024.
The Ministry of Land, Infrastructure and Transport said Tuesday that the highway toll discount system, originally scheduled to be terminated on Dec. 31, will remain in place for two additional years.
Using the Hi-Pass tolling system, owners of electric and hydrogen vehicles can receive a 50 percent discount on toll rates.
Since it was introduced in September 2017 to promote the adoption of eco-friendly vehicles, the discount system has been extended twice, with the amount of highway toll discounts estimated at 21.9 billion won (US$15.3 million) last year.
Commercial trucks and construction vehicles can receive a night-time toll discount rate of 30 to 50 percent.
Since it was introduced in 2000, the discount period has been extended 12 times, with the annual amount of discount estimated at about 100 billion won.
The government expects the extension of the toll rate discount period to contribute to reducing transportation costs by 134.4 billion won over the next two years.
Ashley Song (firstname.lastname@example.org)