Rep. Yang Hyang-ja Introduces Bill to Promote Eco-Friendly Vehicles

[Asia Economy Honam Reporting Headquarters Reporter Yoon Jamin] A bill to promote eco-friendly vehicles has been proposed.

Yang Hyangja, a member of the National Assembly (The Democratic Party of Korea·Gwangju Seo-gu Eul), announced on the 29th that she has taken the lead in proposing the "Restriction of Special Taxation Act Amendment" to extend the tax reduction for eco-friendly vehicle rental businesses and the value-added tax exemption for eco-friendly buses until 2023.

The amendment includes provisions to support the distribution of eco-friendly vehicles such as electric and hydrogen cars by reducing income tax or corporate tax by 30% for businesses engaged in rental services of such vehicles, and to extend the value-added tax exemption benefits for buses supplied for city and village buses among eco-friendly vehicles until 2023.

Assemblywoman Yang Hyangja explained, "Under the current Restriction of Special Taxation Act, the special provisions for the distribution of eco-friendly vehicles and the development of related industries are set to expire on December 31, so there has been a strong call to extend the sunset date," adding, "In line with the government's Green New Deal policy, I have taken the lead in proposing a bill to extend the sunset date by three more years to expand the distribution of eco-friendly vehicles."

The government, which introduced special tax systems such as individual consumption tax reductions from next year to promote the distribution of eco-friendly vehicles and secure technological capabilities, has announced plans to actively foster related industries through the Green New Deal in the future.

The plan is to distribute 433,000 electric vehicles and 67,000 hydrogen vehicles by 2022, and to supply 10,000 rapid electric vehicle charging stations and 310 hydrogen charging stations. Furthermore, the plan is to expand to 1.13 million electric vehicles, 200,000 hydrogen vehicles, 15,000 rapid electric charging stations, and 450 hydrogen charging stations by 2025.

Assemblywoman Yang said, "If promotion of purchase subsidies and special tax systems for eco-friendly vehicles is strengthened and infrastructure such as charging facilities is expanded, it will encourage the expansion of eco-friendly vehicle distribution and technological development," emphasizing, "We will continue to provide legal and institutional support at the National Assembly level so that related industries can be stably promoted according to the government's roadmap."

Meanwhile, the amendment bill led by Assemblywoman Yang was co-sponsored by Assemblymen Kim Mincheol, Hong Seongguk, Hwang Unha, Jeon Hyesook, Seo Youngseok, Kim Gyeongman, Lee Seongman, Park Seongjun, Kang Junhyeon, Lee Haesik, Lee Sujin (Ji), Kim Seungwon, Oh Younghwan, Kim Hoejae, Song Jaeho, Nam Insun, and Lee Gwangjae.

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