Lee Jae-myung: "Car Tax to Change from Engine Displacement to Price and CO₂ Emission Standards"
The 64th SoHwakheng Pledge
[Asia Economy Reporter Lee Hyun-joo] Lee Jae-myung, the presidential candidate of the Democratic Party of Korea, announced on the 6th that he will improve the current automobile tax system to reduce carbon emissions.
On the same day, Lee stated on his Facebook, "Many citizens feel that the current automobile tax system based on engine displacement is unfair." This is his 64th small but certain happiness (So-hwak-haeng) pledge.
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The core of the plan is to change the automobile tax system, which is currently based on engine displacement, to one based on car price and carbon dioxide (CO₂) emissions standards. The tax will be levied proportionally to the price of the car, but it will be designed so that taxes on small cars and electric/hydrogen vehicles do not increase compared to now. The method reflecting CO₂ emissions will be implemented once the emission measurement equipment has sufficient reliability.
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