Incheon City to Provide 32.5 Million Won Subsidy per Hydrogen Car... 500 Units to be Distributed This Year

Incheon Airport Terminal 1 Hydrogen Charging Station
Photo provided by Incheon City

[Asia Economy Reporter Park Hyesook] Incheon City announced on the 28th that it will provide purchase subsidies to distribute hydrogen electric vehicles to the private sector.

The subsidy is 32.5 million KRW per hydrogen car (22.5 million KRW from the national government and 10 million KRW from the city), and the city plans to distribute 500 hydrogen cars this year through subsidy support.

Applicants for the subsidy must be citizens who have resided in Incheon for more than 30 days as of the date of purchase application submission, and individuals, corporations, organizations, or public institutions registered as businesses in Incheon as of the day before the application are also eligible.

Buyers must submit a support application after signing a purchase contract with the automobile manufacturer or dealer for vehicles that can be delivered within two months.

As of December last year, a total of 1,009 hydrogen vehicles have been distributed in Incheon. Five charging stations are currently in operation, and four more are scheduled to open within the year in Seogu Oryu-dong and Yeonhui-dong, Jung-gu Sinheung-dong, and Namdong-gu Susan-dong.

The city plans to increase the number of hydrogen charging stations in the region to 20 by 2025 and continue to expand the distribution of hydrogen vehicles.

The city stated that using hydrogen electric vehicles reduces fuel costs by about 20% compared to gasoline cars (Nexo, 17-inch standard).

Additionally, users can receive tax benefits including up to 4 million KRW in individual consumption tax reduction, up to 1.2 million KRW in education tax reduction, and up to 1.4 million KRW in acquisition tax reduction, along with a 50% discount on parking fees at public parking lots and highway tolls.

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