Jung Sye-kyun: "Public Sector to Establish Mandatory Purchase Target System for Eco-Friendly Vehicles"

The 122nd National Issues Inspection and Coordination Meeting

Prime Minister Chung Sye-kyun is moving to attend the National Policy Issue Inspection and Coordination Meeting held on the 18th at Hyundai Motor Namyang Technology Research Center in Hwaseong, Gyeonggi Province, with Chung Eui-sun, Chairman of Hyundai Motor Group (right). 2021.2.18 [Image source=Yonhap News]

[Asia Economy Reporter Son Sun-hee] Prime Minister Chung Sye-kyun announced on the 18th, "Starting this year, we will introduce a mandatory purchase target system for electric vehicles and hydrogen vehicles in the public sector." The intention is to create a steady demand for eco-friendly vehicles beginning with the public sector, serving as a catalyst for the market.

On the same day, Prime Minister Chung held his first on-site government policy coordination meeting at Hyundai Motor Company and Kia Namyang Research Center in Hwaseong, Gyeonggi Province, stating, "The government has designated this year as the inaugural year for the popularization of eco-friendly vehicles, and we aim to accelerate innovations in both demand and supply bases so that our companies can firmly establish themselves as first movers in the global market." He added, "We will also implement various support policies, such as prioritizing subsidies for rental, logistics, and transportation companies when purchasing eco-friendly vehicles, to generate large-scale demand in the private sector."

Additionally, plans are in place to expand support for the research and development of dedicated eco-friendly vehicle platforms, localization of parts, and leasing of batteries and fuel cells. Prime Minister Chung said, "We will focus our capabilities on a stable transition to an eco-friendly vehicle industry ecosystem by creating a 200 billion KRW Future Car New Deal Fund to support business restructuring of primary and secondary partners."

On the 18th, at Hyundai Motor Namyang Technology Research Center in Hwaseong-si, Gyeonggi-do, Hyundai Motor Group executives, including Chung Eui-sun, Chairman of Hyundai Motor Group (second from the left), attended the Government Policy Coordination Meeting chaired by Prime Minister Chung Sye-kyun. 2021.2.18
[Photo by Yonhap News]

At the meeting, business leaders including Chung Eui-sun, Chairman of Hyundai Motor Group, and Kim Jong-hyun, CEO of LG Energy Solution, also attended to discuss the 'Eco-friendly Vehicle Promotion Strategy.'

Referring to the new car equipped with Korea's first dedicated electric vehicle platform to be unveiled that day, Prime Minister Chung said, "I hope it becomes the protagonist that sparks a wave of innovation in the global eco-friendly vehicle market."

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