[2022 Green Mobility Award] Government "Actively Supporting Leadership in Future Automotive Industry"

Jinkyu Park, Vice Minister of the Ministry of Trade, Industry and Energy

Park Jin-gyu, Vice Minister of the Ministry of Trade, Industry and Energy, is delivering a congratulatory speech at the 2022 Korea Green Mobility Awards hosted by Asia Economy at Lotte Hotel in Jung-gu, Seoul on the 26th. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Yoo Hyun-seok] "The electric and hydrogen vehicle markets are growing rapidly. The government will spare no effort to actively support our automotive industry to lead the future."

Park Jin-gyu, Vice Minister of the Ministry of Trade, Industry and Energy, announced this government plan during his congratulatory speech at the '2022 Korea Green Mobility Awards' held on the 26th at Lotte Hotel in Sogong-dong, Seoul.

Vice Minister Park evaluated that despite the global automotive market shrinking last year due to semiconductor supply shortages, domestic automakers performed well and even took the lead. He said, "Last year, despite COVID-19 and supply chain crises, our automotive industry maintained domestic production at 3.36 million units, similar to the previous year," adding, "Exports increased by 8.5%, and eco-friendly vehicles saw a significant increase of over 50%."

He explained, "Leading domestic companies ranked first globally in hydrogen vehicles and fifth in electric vehicles," and "The domestic electric and hydrogen vehicle supply surpassed 250,000 units cumulatively last year, which is the result of industry investment and steady efforts based on government support."

Vice Minister Park plans to continue steady support so that the domestic automotive industry can lead the future. He said, "We will accelerate the transition to future vehicles by investing 415.7 billion KRW in technology and research and development (R&D)," and added, "The government will support private sector investments to be proactive and timely."

Along with this, active efforts will be made to promote eco-friendly vehicles such as electric and hydrogen cars. He emphasized, "This year, the subsidy volume for electric and hydrogen vehicles is planned to be 208,000 units," and "Electric chargers will be expanded to a cumulative 160,000 units, and hydrogen charging stations to a cumulative 310 units." He added, "We will spare no support in various fields to establish a foundation for the commercialization of autonomous vehicles."

Finally, Vice Minister Park said, "This year, the challenge is to establish a stable production system in line with the rapidly growing future vehicle market," and "The government will actively support achieving this goal."

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