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Majority of S. Koreans Consumers Support Popularizing EVs for Environmental Protection

Majority of S. Koreans Consumers Support Popularizing EVs for Environmental Protection

SEOUL, Feb. 16 (Korea Bizwire) — With a string of new electric vehicles (EVs) being rolled out this year by major carmakers, a consensus is building up among South Korean consumers that the popularization of EVs should be promoted in order to protect the environment. Market research firm M-Brain Trend Monitor recently conducted a survey [...]

S. Korea to Expand Subsidies for Eco-friendly Cars

S. Korea to Expand Subsidies for Eco-friendly Cars

SEOUL, Jan. 21 (Korea Bizwire) — South Korea said Thursday it plans to expand subsidies provided for electric vehicles and hydrogen fuel-cell automobiles this year in line with the country’s green energy drive. Under the plan, South Korea will allocate 1 trillion won (US$930 billion) to promote sales of electric cars, which marks a 25 [...]

S. Korea’s Rechargeable Battery Exports Gain for 5th Year in 2020

S. Korea’s Rechargeable Battery Exports Gain for 5th Year in 2020

SEOUL, Jan. 18 (Korea Bizwire) — South Korea’s exports of rechargeable batteries rose for the fifth consecutive year in 2020 despite the coronavirus impact, data showed Monday. Overseas shipments of rechargeable batteries came to 7.2 trillion won (US$6.6 billion) last year, up 2.9 percent from the previous year, according to the data from the industry [...]

High-end EVs Priced Over 90 mln Won Excluded from Subsidies

High-end EVs Priced Over 90 mln Won Excluded from Subsidies

SEOUL, Jan. 5 (Korea Bizwire) — Starting this year, high-end electric vehicles (EVs) that cost more than 90 million won (US$82,800) will be excluded from government subsidies. The Ministry of Environment announced Monday a new subsidy policy that will soon come into effect. The government has provided new criteria for electric vehicle subsidies based on [...]