[2021 Green Mobility Award] Government: "35% of Car Exports to Be Eco-Friendly Vehicles by 2025"

Minwoo Lee, Director of Future Automobile Industry Division, Ministry of Trade, Industry and Energy

[Asia Economy Reporter Kim Hyewon] The government is accelerating the establishment of a friendly system in four major areas?charging, parking, pricing, and demand creation?to transition the national ecosystem to a future car-centered society and industry by 2025.

Lee Minwoo, Director of the Future Automobile Industry Division at the Ministry of Trade, Industry and Energy, stated at the lecture of the '2021 Korea Green Mobility Awards' hosted by Asia Economy on the 26th, "We will promote policies aiming for a 10% global market share by distributing future cars for 18% of new car sales domestically by 2025." This event was held non-face-to-face (untact) in compliance with the government's social distancing guidelines for COVID-19 prevention.

The government will first focus on establishing a system where electric vehicles can be charged regularly like mobile phones. By 2025, 500,000 slow chargers (currently 50,000) will be installed at living hubs such as residences and workplaces, and 15,000 fast chargers (currently 8,900) will be installed at mobility hubs such as highways.

Hydrogen fuel cell vehicle charging stations will be planned nationwide in the first quarter of this year, considering traffic volume and consumer purchasing power. Dedicated parking spaces for electric and hydrogen fuel cell vehicles will also be expanded, mainly in public institutions.

Policies to ensure eco-friendly vehicles secure economic feasibility without subsidies will also be intensively promoted. Director Lee said, "We will reduce the price of electric vehicles by half through battery leasing," adding, "We will induce reasonable pricing and performance improvements through subsidy and tax reforms, such as limiting subsidies for high-priced or low-efficiency vehicles." The government will also create demand by requiring logistics companies and corporate vehicles, such as buses and trucks, to purchase a certain percentage of eco-friendly vehicles.

Not only complete vehicles but also secondary batteries, parts, and land, sea, and air mobility-related industries will be fostered as export mainstays. Director Lee emphasized, "By 2025, 35% (about 800,000 units) of automobile exports will be converted to eco-friendly vehicles," and "We will secure next-generation technology early for secondary batteries and nurture them as the second semiconductor leading the world."

He continued, "We will help 1,000 parts companies transition to the future car sector and support the spread of new business models through New Deal funds," adding, "We will reorganize the entire industrial ecosystem by expanding future car maintenance systems and training 2,400 field personnel."

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