Seoul City Targets 10,000 Electric Vehicles This Year... Subsidy Applications Open from the 17th

Application for Support After Purchase Contract Conclusion

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[Asia Economy Reporter Hyunju Lee] The Seoul Metropolitan Government announced on the 11th that it will begin accepting subsidy applications with the goal of distributing 10,000 electric vehicles this year.

The budget for Seoul's electric vehicle purchase subsidies is 142.3 billion KRW, covering 8,909 units for private distribution (5,632 passenger cars, 587 small cargo vehicles, 1,000 ultra-small cargo vehicles, and 1,690 two-wheelers). Applications for subsidies will be accepted through the Ministry of Environment's integrated electric vehicle portal starting from the 17th.

Eligible applicants are individuals, businesses, corporations, organizations, and public institutions who have resided in Seoul for more than 30 days as of the application date or have registered their business office in Seoul.

Applicants must have signed a purchase contract with the vehicle manufacturer or importer and apply for purchase support only for vehicles that can be delivered within two months.

An additional subsidy of up to 700,000 KRW will be provided when purchasing an electric vehicle after scrapping a vehicle classified as emission grade 5.

This content was produced with the assistance of AI translation services.