SEOUL, Feb. 21 (Korea Bizwire) — A court has ruled in favor of GM Korea Co., the South Korean unit of General Motors Co., in a lawsuit filed against the government’s decision to retrieve its subsidy provided for a facility the carmaker disposed of in 2019, sources said Monday. The suit was filed by GM [...]
SEOUL, Oct. 8 (Korea Bizwire) — More than half of the purchase subsidies that the South Korean government disbursed for purchases of electric two-wheelers last year turned out to be for ‘Made in China’ products. Rep. Kim Sung-whan, a lawmaker of the ruling Democratic Party, said on Wednesday during the parliamentary inspection of the Ministry [...]
SEOUL, Sept. 16 (Korea Bizwire) — South Korea plans to offer financial incentives to individuals who adopt abandoned animals. The plan is to offer subsidies of up to 100,000 won (US$85.11) for each adoption as part of the country’s effort to raise awareness of respecting animal life and promote healthier ways to adopt animals, the [...]
SEOUL, Aug. 9 (Korea Bizwire) — South Korea’s environment ministry said Sunday that it will revamp a subsidy scheme for electric vehicles (EVs), with the current proposal centering on excluding high-priced EVs from the subsidy recipients. The country’s fat subsidies for EVs have been a major contributor to the popularity of eco-friendly cars. The overhaul [...]
SEJONG, Jan. 20 (Korea Bizwire) — South Korea’s finance and environment ministries said Monday that they have changed a state subsidy scheme for eco-friendly vehicles to allow buyers of efficient cars to get larger subsidies from this year. Currently, the state subsidy is calculated on an electric car’s battery capability. Under the revised subsidy program, [...]
SEOUL, Jan. 14 (Korea Bizwire) — Subsidies offered by different levels of government to prompt the sales and expand the supply of electric vehicles (EVs) are being abused. This is because the subsidy provided per EV paid by local governments is different, and the number of vehicles supported is different. Therefore, a growing number of [...]
SEOUL, May 24 (Korea Bizwire) — Sources in China say that electric cars equipped with Korean-made batteries were not included in a list of cars awarded subsidies by the Chinese government. According to industry insiders, the Ministry of Industry and Information Technology in China announced on its website yesterday a list of car models that [...]
SEOUL, Nov. 9 (Korea Bizwire) — The government said Thursday it will inject nearly 3 trillion won (US$2.7 billion) into smaller companies to ease their cost burden resulting from a drastic increase of the wage floor starting next year. A company with less than 30 staff will be eligible for state support of up to [...]
SEOUL, Sept. 22 (Korea Bizwire) — Tesla Motors Inc.’s Model S 90D is eligible to receive government subsidies in South Korea as the country has recently eased regulations involving battery charging time, the environment ministry said Friday. On Thursday, the Ministry of Environment notified the U.S. electric carmaker of its decision to include the Model [...]
SEOUL, May 26 (Korea Bizwire) — The Constitutional Court on Thursday upheld a law that restricts subsidies on the purchase of smartphones and other mobile devices. The regulation, which sets the legal limit of subsidies at 330,000 won (US$295), was adopted to bring transparency and stability to the market long distorted by subsidies as telecom [...]