Sejong-si Supports Early Retirement of 650 Old Diesel Vehicles with 1.4 Billion Won Budget Injection

[Asia Economy Reporter Jeong Il-woong] Sejong City will invest 1.4 billion KRW to support the early retirement of old diesel vehicles within the city.

According to the city on the 19th, the early retirement support targets diesel vehicles rated as emission grade 5 and road-use type 3 construction machinery manufactured before 2005, which have been continuously registered in Sejong for more than six months and owned by the vehicle owner for more than six months.

Additionally, support is available only if the vehicle passes the functional inspection under the Automobile Management Act with a "suitable" judgment and is operable. However, vehicles that have received government support to install emission reduction devices or have been converted to low-emission engines are excluded from eligibility.

The scale of supported vehicles is 650 units, and the support amount is paid within the upper limit and support rate range based on the quarterly vehicle standard value calculated by the Insurance Development Institute.

Basically, vehicles with a gross weight under 3.5 tons can receive up to 3 million KRW per vehicle. Furthermore, if the vehicle is classified as a small business vehicle, commercial vehicle, a vehicle without developed or installable reduction devices, or a low-income vehicle, the upper limit increases to 6 million KRW.

In addition, the city also supports the purchase of new LPG cargo vehicles and the cost of installing emission reduction devices. First, for new LPG cargo vehicle purchases, a fixed amount of 4 million KRW per vehicle is provided when purchasing an LPG cargo vehicle after scrapping a diesel vehicle (limited to 30 vehicles).

Also, for emission reduction device installation, the city covers the remaining cost except for the owner's contribution of about 10% to 12.5% of the total cost (around 300,000 KRW, limited to 60 vehicles). The eligibility criteria are applied the same as the early retirement support standards.

Whether a vehicle corresponds to emission grade 5 can be checked through the Ministry of Environment call center and the vehicle emission grade system website.

The application period is from the 22nd of this month to the 12th of next month, and to prevent the spread of COVID-19, applications will be accepted only via internet submission or registered mail.

For more detailed information, please check the announcement posted in the announcement section on the city’s website or contact the city call center for guidance.

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