Support for Scrapping and Low-Emission Measures for 470,000 Old Diesel Vehicles and Construction Equipment This Year to Reduce Emissions

Ministry of Environment Implements 2021 Vehicle Emission Reduction Project

[Sejong=Asia Economy Reporter Ju Sang-don] The government will invest a budget of 647 billion KRW (based on national funds) this year to support scrapping and low-emission measures for old diesel vehicles and construction machinery.

The Ministry of Environment announced on the 15th that it will implement the "2021 Vehicle Emission Reduction Project" containing these details starting from the 16th.

Based on the improved vehicle emission reduction project, the Ministry of Environment will invest a budget of 647 billion KRW (based on national funds) this year to support scrapping or low-emission measures for 470,000 old diesel vehicles and construction machinery, including 340,000 early scrapped vehicles, 90,000 diesel particulate filters, and 26,000 liquefied petroleum gas (LPG) cargo trucks and school buses for children. Through this, it aims to support the fine dust seasonal management system currently implemented in the metropolitan area and alleviate the inconvenience of owners of grade 5 vehicles subject to driving restrictions.

Regarding the cost estimation, which forms the basis for subsidy support, the Ministry of Environment plans to pilot the application of the "Manufacturing Cost Estimation Standard (draft)" from this year for systematic calculation. The results calculated according to the estimation standard were reviewed objectively by the "Manufacturing Cost Review Committee," which includes external experts. Accordingly, the subsidy calculation standard amount has been reduced by about 30% compared to before, and the self-payment amount that applicants must pay has also decreased.

An official from the Ministry of Environment said, "If any parts causing public inconvenience during project operation are identified, we will promptly pursue system improvements and plan to manage subsidy execution more thoroughly in the future."

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