Kookmin Bank, Samsung Electronics, and 26 Financial and Manufacturing Companies Declare Participation in K-EV100

100% Transition to Zero-Emission Vehicles by 2030
Second After the Car Rental and Leasing Industry

[Sejong=Asia Economy Reporter Joo Sang-don] On the 14th, 26 financial and manufacturing companies, including KB Kookmin Bank and Samsung Electronics, declared their participation in the 'Korean-style Zero-Emission Vehicle Transition 100 (K-EV100)' initiative, pledging to convert their corporate vehicle fleets to zero-emission vehicles (electric and hydrogen vehicles) by 2030.

On the afternoon of the same day, the Ministry of Environment held the 2030 Zero-Emission Vehicle Transition 100 declaration ceremony at The Plaza Hotel with six financial companies, 20 manufacturing companies, and the Korea Automobile Environment Association. This declaration by the financial and manufacturing sectors follows the first declaration made on March 25 by the car rental and leasing industry to transition to zero-emission vehicles.

The six financial companies participating in this declaration?Kookmin Bank, NH Nonghyup Bank, Shinhan Bank, Shinhan Card, OK Financial affiliates, and Woori Bank?currently own a total of about 5,000 vehicles. Among these, only 46 vehicles (0.8%) are zero-emission vehicles. Initially, these financial companies plan to dispose of about 50 internal combustion engine vehicles they currently own within this year and purchase or lease 91 new vehicles as zero-emission vehicles.

They plan to gradually increase the number of zero-emission vehicles to 1,600 by 2025, 4,000 by 2028, and 5,900 (cumulative) by 2030 through purchase or lease, aiming to convert 100% of their vehicle fleets to zero-emission vehicles by 2030.

Among the 20 manufacturing companies, including Samsung Electronics, LG Electronics, Hyundai Motor Company, Kia, SK Innovation, LG Energy Solution, and Hyundai Steel, there are currently about 19,000 vehicles, of which 355 (1.9%) are zero-emission vehicles. Within this year, they will dispose of about 800 internal combustion engine vehicles and purchase or lease 833 new zero-emission vehicles. These companies plan to gradually increase zero-emission vehicles to about 10,000 by 2025, 15,000 by 2028, and 19,000 (cumulative) by 2030, achieving a 100% transition to zero-emission vehicles by 2030.

Additionally, for companies participating in K-EV100, Nonghyup Bank will offer preferential interest rates, and Hyundai Motor Company will reduce vehicle purchase prices. Lotte Rental, Socar, Hyundai Capital, and others will apply special rental and leasing prices to support companies' transition to zero-emission vehicles.

Han Jeong-ae, Minister of Environment, stated, "The financial and manufacturing companies participating in the declaration are leading companies recognized domestically and internationally and represent their respective industries, serving as stepping stones to expand zero-emission vehicle transition across all sectors." She added, "We expect this declaration to provide an opportunity for collaboration between the manufacturing and financial sectors to promote carbon neutrality and industrial structure innovation."

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