Gochang-gun, Additional Applications for Early Retirement Subsidies for Old Diesel Vehicles

[Asia Economy Honam Reporting Headquarters Reporter Kim Jaegil] Gochang-gun, Jeonbuk announced on the 18th that it will accept additional applications for early retirement subsidies for old diesel vehicles starting from the 18th.

The county received the first round of applications and promoted early retirement of 500 vehicles in the first half of the year, but since the number of applicants was insufficient, it decided to proceed with early retirement for an additional 350 vehicles (570 million KRW).

Applications can be submitted at the town and township offices of the applicant's address. The second application period is until the 5th of next month, and the recipients will be selected by the end of next month.

The eligible vehicles for support are old diesel vehicles with emission grade 5 that are operable. Additionally, ▲ the vehicle must have been registered in Gochang-gun for more than 6 months, ▲ the ownership period must be more than 6 months before the application date, and ▲ the vehicle must not have received government support for attaching emission reduction devices or been converted to a low-emission engine.

Furthermore, the vehicle must not have been fitted with emission reduction devices or converted to a low-emission engine through government support, and must have received a "normal operation" judgment on the operable vehicle confirmation certificate.

Subsidy recipients will be selected from applicants who meet all eligibility requirements and in order of the oldest vehicle model year among those who applied within the application period.

The early retirement subsidy amount will be supported based on the vehicle value announced by the Insurance Development Institute and the price quarterly announced by the Korea Automobile Environment Association.

From this year, the upper limit of the early retirement subsidy has been raised from 1.65 million KRW to 3 million KRW, and 70% of the standard vehicle value will be supported upon scrapping. However, the older the vehicle, the lower the subsidy amount. An additional 30% support is provided when purchasing a new vehicle that is not a diesel vehicle, but used cars and two-wheeled vehicles are excluded.

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