According to the city government, an overwhelming number of applicants for electric car subsidies saw the subsidy fund allotted to the proposed 125 vehicles completely depleted within 20 minutes after the government began accepting e-mail applications last Monday. (Image: Kobiz Media)
SEOUL, Jun. 19 (Korea Bizwire) — Amid growing public interest and demand for more eco-friendly and energy-saving electric alternatives, the city government of Yongin is ramping up its financial support for renewable energy enthusiasts in an effort to broaden the use of electric cars in the region.
According to the city government, an overwhelming number of applicants for electric car subsidies saw the subsidy fund allotted to the proposed 125 vehicles completely depleted within 20 minutes after the government began accepting e-mail applications last Monday.
Against this backdrop, the Yongin City Government announced plans to work with the Gyeonggi Provincial government to expand its budget to further support local electric car enthusiasts this month, as part of a bigger effort to encourage more energy-saving alternatives.
“In response to the growing public demand and interest in electric vehicles, we are poised to build infrastructure for electric cars in places such as public parking space, apartment blocks and business areas,” a Yongin government official said.
Local governments in South Korea have been accelerating their renewable energy efforts in recent months, namely by supporting the purchase of electric vehicles, amid growing concerns over fine dust issues and the newly elected Moon administration’s hardline stance on air pollution.
Due to the high price of batteries, government support programs for first-time electric car buyers have proven highly popular.
According to the Korea Automobile Manufacturers Association and the Ministry of Land, Infrastructure and Transport, the number of electric cars registered from January to April this year increased sevenfold compared to the same time last year.
Hyunsu Yim (hyunsu@koreabizwire.com)
