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S. Korea to Overhaul Subsidy Scheme for EV Cars

S. Korea to Overhaul Subsidy Scheme for EV Cars

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 [...]

S. Korea Changes Subsidy Scheme for Eco-friendly Autos

S. Korea Changes Subsidy Scheme for Eco-friendly Autos

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, [...]

Chinese Cars with Korean-made Batteries Excluded from Chinese Subsidies

Chinese Cars with Korean-made Batteries Excluded from Chinese Subsidies

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 [...]

Tesla Model S 90D Receives Subsidy in S. Korea

Tesla Model S 90D Receives Subsidy in S. Korea

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 [...]

Constitutional Court Upholds Law Restricting Subsidies on Mobile Devices

Constitutional Court Upholds Law Restricting Subsidies on Mobile Devices

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 [...]

Government Pledges to Pay SMEs Adopting Family Day Policy

Government Pledges to Pay SMEs Adopting Family Day Policy

SEOUL, Feb. 24 (Korea Bizwire) – Despite the public skepticism, the government is serious about its plan to implement a ‘Family Day’ to promote domestic consumption.  In a meeting chaired by acting president Hwang Kyo-ahn on Thursday, the government announced that it will designate one Friday a month as a “Day with Family,” on which [...]