Hyundai NEXO (Image courtesy of Yonhap)
SEOUL, Feb. 13 (Korea Bizwire) – The Seoul Metropolitan Government has announced plans to invest approximately 16.6 billion won this year to facilitate the distribution of 102 hydrogen fuel cell cars and 42 hydrogen buses, enhancing the city’s green mobility initiatives.
Starting from February 13, the city will begin accepting applications for hydrogen car purchase support. Buyers of hydrogen cars can avail themselves of a subsidy of 32.5 million won, along with tax incentives, effectively halving the cost of a hydrogen vehicle priced around 70 million won.
Eligibility for this support extends to individuals, corporations, and organizations that have been residents of Seoul or have had their principal office business registration in the city for at least 30 days prior to the application date.
Individuals can apply for one vehicle each, while businesses and organizations are allowed up to 20 vehicles per entity. The Hyundai Nexo, a mid-sized SUV, is currently the only model eligible for this subsidy.
The application process is managed by the manufacturers and dealers of hydrogen vehicles, with the condition that the vehicle must be delivered within two months from the application date.
Besides the subsidy, hydrogen car owners will enjoy additional benefits, including up to 6.6 million won in tax reductions, 50% off parking fees at public parking lots, half-price tolls on expressways, and exemption from congestion charges in Namsan Tunnel.
Seoul currently hosts 10 hydrogen refueling stations with 14 pumps, sufficient for the 3,110 hydrogen vehicles registered in the city. However, the city plans to expand the refueling infrastructure in line with the growing number of hydrogen vehicles.
By 2026, Seoul aims to transition approximately 1,300 buses, including airport buses, city buses, and private company commuter buses, to hydrogen-powered vehicles.
Jeong Sam-mo, the head of Seoul’s eco-friendly vehicle division, stated, “In pursuit of achieving carbon neutrality by 2050, we are committed to expanding the distribution of eco-friendly hydrogen vehicles and steadily increasing the hydrogen refueling infrastructure. We hope to transform Seoul into a leading city in hydrogen mobility and encourage widespread participation and interest in our hydrogen vehicle distribution efforts.”
Kevin Lee (kevinlee@koreabizwire.com)
